Tabled in State Parliament today, the report was based on a 12-month comprehensive audit by the Office of the Auditor General.
The Public Trustee plays an important role in the lives of many Western Australians and offers a range of services.
Mr Roche said that while the report identified areas for improvement, he was pleased the Auditor General found that the agency understands its high-level fraud risks, has a co-ordinated approach to manage those risks, and has a detailed fraud and corruption plan.
The Public Trustee is an entirely self-funding statutory authority that receives no funding from Government and is required to charge fees for its services.
"An external review of our fees was conducted by a leading independent economics and public policy firm in 2020 which found the current ‘work effort’ fees system to be fair, reasonable and appropriate in most instances," Mr Roche said.
"The external consultancy firm has also been working to streamline and simplify trust and deceased estate fees.
"Fees currently charged compare favourably to those of other trustees. A majority of our financial administration clients already receive a fee rebate (or waiver) through the Public Trustee’s operating subsidy policy and clients receive a quality service at an affordable price."
Mr Roche said the report acknowledges his agency has already addressed the findings on the need for improved supplier master file controls and has strengthened controls associated with cash cards for those clients who don’t have bank accounts or can’t access their bank accounts.
The Public Trustee accepts the recommendations in the Auditor General’s report which, once implemented, will further improve its business operations and processes.
He looks forward to a review by the Department of Treasury which includes whether the Government should subsidise the cost of providing services for those clients who cannot afford to pay.
Last financial year the Public Trustee managed over 6,700 trusts - 5,000 of which belonged to clients under administration orders from the State Administrative Tribunal.
In the recent 2022/23 Budget the McGowan Government approved a significant increase in staff numbers to enable the Public Trustee to meet the escalating demand for services from people with decision-making disabilities.
"This was the largest staffing increase in the history of the agency and will enhance our ability to deliver services to those who most need them," Mr Roche said.
"I'm proud of the professionalism and dedication of my staff who under very difficult circumstances over the past two years have continued to support and provide service to our diverse range of clients."
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