viscopy
viscopy annual report 2011
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annual report 2011
Viscopy’s cover features the work of Margaret Olley who passed away earlier this year. Olley was as famous for her still lifes and interiors as for being a generous benefactor and mentor to younger artists.
Margaret Olley, Chinese screen and yellow room Art Gallery of New South Wales Purchased 1996 Š Estate of Margaret Olley with the permission of the Art Gallery of New South Wales
The subjects of her paintings are primarily from her own home and her works are held in major state and national collections. Olley was awarded an Order of Australia in 1991 and Companion of the Order of Australia in 1996 in recognition of her significant contribution to the visual arts in Australia. Margaret Olley had been a Viscopy member since 2002.
Helicopter Tjungarrayi Tjurrnu © Helicopter Tjungarrayi Licensed by Viscopy, 2011
message from the chairman
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chief executive’s report
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about viscopy
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our licensing services
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view from a licensing customer
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10 good reasons
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view from a viscopy member
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payments to artists international partners
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business
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blackfriars off broadway
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john fries memorial prize
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board of directors
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financial information
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Indigenous artists’
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message from the chairman
Viscopy’s mission continues to be the support of visual artists and craftspeople through a membership driven organisation, dedicated to managing their rights and campaigning on their behalf to maximise the economic potential of their creative work. In this regard, the Viscopy board and staff are proud to represent the interests of about 8000 visual creators in Australia and New Zealand. The past year has been one of continued growth. 2010/2011 saw another record year in direct licensing revenues and membership increases of 8% with a total of $1.5m in royalties distributed to members. These results reflect the continued skill and dedication of the Viscopy staff. Despite these successes, the challenge of being a small collective rights organisation was felt a number of times during 2010/11. It is in this environment that the Board embarked on a process to determine how best to position Viscopy for future financial sustainability and continued growth. After consideration of a range of alternative operating models, the Board approached a number of organisations
with the requisite copyright management skills and scale to determine if a strategic partnership were feasible. These discussions progressed, and Viscopy was pleased to announce its entry into a services agreement with Copyright Agency in November 2011 which is anticipated to take effect by mid-2012, subject to regulatory approval. In seeking to partner with another organisation, Viscopy’s goal is to: r DPOUJOVF UP SFQSFTFOU UIF JOUFSFTUT of visual artists and craftspeople in public and private fora; r JODSFBTF SFWFOVF GPS NFNCFST GSPN the direct licensing of their artistic works by gaining access to systems and complementary rights; r HBJO UIF CBDL PGà DF TDBMF UP FOBCMF a reduction in fees charged for the collective management of members’ rights; and r QMBDF 7JTDPQZ PO B TVTUBJOBCMF financial footing. These objectives reflect the centrality of artists’ interests in everything that the Board, staff and Viscopy itself does, and will continue to do.
Jeremy Thorpe Chair
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2010/2011 has been another year of growth and development for Viscopy. Viscopy’s membership has grown by 8% in the past year and now numbers more than 8500 visual artists in Australia and New Zealand. Importantly, approximately half of our members are Aboriginal and Torres Strait Islander artists working in urban, regional and remote communities. Management of our members’ rights to preserve the value in their creative enterprise is central to our mandate. The key to successfully serving this mandate is facilitating access to our members’ works so users of visual material, be they publishers, state or national art galleries or manufacturers, can license what they need, when they need it. This year Viscopy has developed its customer focus and its commitment to providing efficient, user-friendly licensing solutions for visual art material. The results speak for themself – despite the global economic downturn, our transactional licensing business continues to grow and we are pleased to report overall revenues for the year of $3.2 million. 2010/2011 has also seen the development of Viscopy’s Indigenous copyright education program – Artists’ © Business – which, thanks to Federal Government support, ensured that Viscopy delivered workshops to more than 376 Aboriginal and Torres Strait Islander artists and art workers in some of Australia’s most remote communities as well as urban and regional centres. For the second year, with the generous support of the Fries family, Viscopy was privileged to host the John Fries Memorial Prize 2011 for emerging artists which provided burgeoning artists and curators with opportunities to develop their art practice.
chief executive’s report The Viscopy board has welcomed several new directors including Aboriginal educators, artists and curators Lynette Riley and Megan Cope and finance, audit and risk specialists Chris Westworth and Tim Denny. Under the chairmanship of Jeremy Thorpe, the board has spent much of 2010/2011 negotiating a new strategic direction for Viscopy. As we go to press, Viscopy is pleased to announce that it has entered into a services agreement with Copyright Agency which, subject to regulatory approval, will see Copyright Agency deliver administration, licensing and distribution services to Viscopy members. While Viscopy members will continue to be served by the Viscopy board, this arrangement will reduce the cost of distributing royalties to Viscopy members, particularly for statutory licensing schemes. Additionally, Viscopy members will benefit from the development of new licensing opportunities and a growth strategy achievable only through a partnership
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with a larger organisation. We anticipate that this arrangement will commence by mid-2012. We look forward to a new and exciting phase in Viscopy’s development in 2011/2012. On behalf of the team at Viscopy, I would like to thank you, our members, for your support. We look forward to serving you in the year ahead.
Alida Stanley Chief Executive
about vi s cop y
ou r licens ing s ervices
Viscopy is Australasia’s notfor-profit rights management organisation for the visual arts providing copyright licensing services in Australia and New Zealand for a wide and varied customer base on behalf of our members.
Currently, Viscopy offers two licensing services which generated over $3 million revenue for artists in 2010/2011.
Membership of Viscopy is open to all Australian and New Zealand artists and others (such as artists’ beneficiaries or arts centres) who own or control copyright in visual works of art. Membership is open to all artists, regardless of commercial success, including painters, sculptors, photographers, illustrators, cartoonists, craft practitioners, potters, architects and many others. It is free to join. Viscopy is governed by voluntary board of directors which includes artists and business experts. We operate on a not-for-profit basis which means that we charge artists a fee (deducted as a proportion of the royalties we collect on their behalf) to cover the costs of providing our services. Currently, our administration fee is 25% (and 10% for royalties collected from overseas).
Copyright licensing
Statutory licensing
Viscopy manages the rights in artistic works on behalf of the artists (and their beneficiaries) who create them. We do this by providing copyright licensing services to customers in Australia and New Zealand who wish to reproduce or communicate copies of art works. Art works can be used in a wide variety of ways including in books, on websites, greeting cards and posters, in newspapers, magazines, television, exhibition catalogues, merchandise, novelty products, advertising and film. Viscopy provides licensing services to customers working in all of these sectors.
Rights in artistic works are also licensed collectively under statutory schemes which are set up under law. Viscopy participates in two statutory licensing schemes in Australia:
2010/2011 saw the trend towards licensing artworks in online environments with increasing requests for virtual auction catalogues, websites, education kits and journals continue. Our services have adapted to cater for this dynamic growth. We continue to ensure our members are properly protected and remunerated in the digital environment.
Viscopy members that choose to receive royalties from statutory schemes for educational copying of publications and television programs and other statutory schemes through Viscopy, pay commissions to the organisations that administer those schemes and commissions to Viscopy. Artists that collect statutory royalties directly from those organisations do not pay Viscopy’s commission.
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1. Photocopying of books, magazines and newspapers in educational institutions, companies & public sector organisations. This scheme is operated by Copyright Agency Limited. 2. Copying of broadcasts (mainly television) for use as educational resources in schools, colleges and universities. This scheme is operated by Screenrights.
vi ew f rom a lic ens ing customer
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Studio Fresh’s new ‘Art Range’ is a bespoke contemporary range of purses, wallets and bags, designed from paintings by Australian Indigenous artists and hand made in Australia from materials sourced in Australia. We came to Viscopy with the idea and they helped us make it a reality. Viscopy guided us from the beginning, explaining the copyright licensing process, suggesting some artists that would be a good fit for our project, and supplying us with a range of work from their members to choose from. For the launch of this range we chose to work with paintings by Linus Warlappinni, from Jilamara Arts and Crafts Association and Desmond Impu Tjapaltjarri from Ikuntji Art Centre. Viscopy and the artists were as excited about the project as we were. Viscopy worked with us to ensure that the artists were happy with our products and met our tight deadlines so that we were able to launch in time for an important trade show, from which we had great feedback.
Linus Warlapinni Jilamara 2007 © Linus Warlapinni. Licensed by Viscopy, 2011
The range is currently stocked online, in major gallery stores and boutique gift stores throughout Australia. We look forward to working with Viscopy to expand the range.
”
Wendy Paulucci, Studio Fresh Australia www.studiofreshaustralia.com.au
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Copyright can be complicated. Our staff are copyright experts and will ensure that your rights are properly respected and appropriately rewarded.
Many of our members receive royalties regularly. Whether large or small, most artists agree that royalty payments are welcome additional income.
Viscopy is committed to keeping our members informed of the latest developments in artists’ rights through our website.
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Licensing can be time consuming. Becoming a Viscopy member relieves you of the administrative burden involved in managing your rights.
It is very difficult for individual artists to control their copyright internationally. Membership of Viscopy means you are represented in 39 countries around the world.
The John Fries Memorial Prize for emerging artists is an annual prize hosted by Viscopy. Entry fees for the prize are waived for Viscopy members.
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Peace of mind
More time to make art
Stronger bargaining position Negotiating to protect your rights can be challenging for an artist working alone especially if the customer is a large organisation with a lot of bargaining power. Viscopy is a known and respected copyright licensing organisation. We have been licensing copyright for over ten years to customers throughout Australia and New Zealand and we represent almost 50,000 artists.
Potential to earn money
International representation
Information & guidance
Promote your work
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Choice in licensing
Viscopy currently offers two licensing services. You can join for one or both the choice is yours. And remember, you retain your copyright whichever Viscopy service you use.
Support fellow artists Viscopy needs strength in numbers in order to campaign in support of artists’ rights. Becoming a member helps us to stand up for artists.
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Have your say
10 good reasons to become a member of Viscopy viscopy annual report 2011
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Viscopy is a democratic membership organisation. All members have a vote. If you are interested in actively participating in our work, you will have opportunities to be elected to the board of directors.
v i e w fro m a viscop y m em ber Rosalie Gascoigne became a founding member of Viscopy in 1996. It did not take much to convince her to sign up. She was delighted to be able to outsource the business side of her art, so that she could concentrate on making art and not be distracted by copyright requests and decision making. And she recognised that having a highly visible authority charged with managing copyright of her work gave those who wanted to use images of her work a clear point of reference. Since Rosalie’s death in 1999, I have looked after copyright issues on behalf of her estate. We retained Viscopy as our copyright manager, very happily, and I am very pleased we did, not least because Viscopy has the expertise to deal with the increasing use of web-based and other electronic forms of publishing. One of Viscopy’s notable achievements has been the leadership it showed on behalf of artists in getting auction houses and commercial galleries to pay copyright fees-debated at the time, but now an accepted part of the landscape. Viscopy has also proved helpful in handling the advent of the resale royalty. One issue we are faced with concerns copycats who make “homages’” or productions that “are influenced by” Rosalie. It is not Viscopy’s role to deal with them, but I like to think that the existence of a recognised copyright authority such as Viscopy provides an ongoing and highly visible reminder that artists do have copyrights that deserve respect.
Rosalie Gascoigne, Sweet Lovers, 1990 © Rosalie Gascoigne/ Licensed by Viscopy Image courtesy of Roslyn Oxley9 Gallery
I have found Viscopy staff a pleasure to deal with, and very responsive to outof-the-ordinary requests I occasionally put upon them. As the family copyright manager I am also pleased that Viscopy
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will look after the distribution of copyright fees to multiple beneficiaries once the estate is wound up. Martin Gascoigne
p a ym ent s t o a rt ists 2010-11 Top 10 most popular Australian & New Zealand artists represented by Viscopy in 2010 - 2011
Top 10 most popular international artists represented by Viscopy in 2010 - 2011
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1 2 3 4 5 6 7 8 9 10
Emily Kame Kngwarreye Margaret Preston Charles Blackman Mervyn Bishop Arthur Boyd Fred Williams Hans Heysen Ray Thomas Warren Brown Rod Emmerson Bill Leak David Alexander Rowe
Franz Kupka Ian Fairweather Andy Warhol Pablo Picasso Natalja Goncharova Jackson Pollock Max Ersnt Victor Brauner Constantin Brancusi Jean Arp
10 Lin Onus
i n ter n a t ion a l pa rtners
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We pay 75% of royalties collected in Australia and New Zealand, and 90% of royalties collected from overseas to our artists. We retain 25% of local royalties and 10% of overseas royalties to cover the cost of providing our services. This year, we distributed royalties to over 800 Australian and 280 international members with the average payment being $1,207.
I nd i g e nous a rt ists’ Viscopy is proud of the education program we deliver for Aboriginal and Torres Strait Islander artists, students and arts organisations throughout Australia. Viscopy’s Indigenous Artists’ © Business education program is aimed at providing Aboriginal and Torres Strait Islander artists and art centre professionals with practical skills for the protection, documentation and remuneration of their artwork and the copyright that attaches to those artworks. Our aim is to help build a professional, stable and profitable base of Aboriginal and Torres Strait Islander art centres that are self-sufficient in producing and distributing artworks of artistic excellence. In the last financial year, with the assistance of the Federal Government, Viscopy’s Indigneous Artists’ © Business program included visits to 22 art centres and organisations including 13 located in remote communities. A total of 376 artists, arts workers and community members received copyright licensing training through the Indigenous Artists’ © Business education program. Due to the number of artists and art centre workers reached and the large distance covered, there has been a significant increase in Viscopy’s Indigenous membership during this period which grew by more than 700 artists. We have also seen a significant increase in information requests, consultations and referrals, which reinforces the value of the program and the demand for our services. Viscopy’s Indigenous education program coordinator also participated in a large number of workshops and forums where information was shared allowing artists and workers to access the knowledge
© business
needed to protect themselves and their art from misappropriation. Indigenous Artists’ © Business provided the relevant information required to lead artists, art centres and communities toward selfgovernance within the sector. Viscopy is dedicated to providing culturally appropriate copyright training and services to our more than 4000 Aboriginal and Torres Strait Islander members and continues to provide ongoing cultural awareness training to board members and Viscopy staff working within the organisation. As part of Viscopy’s commitment to providing the best possible services to its Aboriginal and Torres Strait Islander members this year, we have established and Indigenous reference group comprising Viscopy board members, artists, curators and community leaders and implemented a Reconciliation Action Plan in conjunction with Reconciliation Australia. In the coming year Viscopy will continue to help build ongoing and positive relationships between Indigenous and non-Indigenous people. 2012 will see Viscopy continue to expand the delivery of its Indigenous Artists’ © Business education program throughout Australia under its recently entered service agreement with Copyright Agency which is anticipated to take effect by mid-2012, subject to regulatory approval.
Brenda L. Croft Jesus wants me for a sunbeam, 1998 © Brenda Croft/Licensed by Viscopy
“Thank you so much for this wonderful and empowering presentation... Very practical advice” Participants UMI Arts Centre, Cairns QLD
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b l a ck f r ia rs off broadway The first show in 2011 for Blackfriars off Broadway (Viscopy’s exhibition space for artists) was Trace Elements, a collaborative exhibition featuring works by Melbourne-based artists Hannah Bertram and Melanie Irwin, winners of the John Fries Memorial Prize 2010 for emerging visual artists. In her exhibition essay Megan Robson explains how ‘both artists incorporated the transformative into their art making not only as a tool of exploration but as an attribute of the work itself. They explored the idea of transformation as an alchemic process that encompasses both elements of destruction and restoration to reference wider scientific, cultural, social and political investigations’. In Trace Elements, Hannah and Melanie’s installation works responded to the exhibition space at Blackfriars off Broadway which also doubles as a working environment for Viscopy. Hannah Bertram’s installations focused on waste materials and forgotten spaces through the creation of intricately patterned ephemeral sculptural forms. Hannah’s works explored the possibilities of preciousness by subverting the traditions of ornamental display. In particular, by making temporary work that employs the complex poetics of ornamentation and questions the value of permanence, extending the viewer’s experience and discovery of the work through various tactics of delay. These enriched moments of experience, question traditional values associated with permanence and posit an alternative consideration of ornamentation.
Melanie Irwin uses base materials and found objects to create her sculptural and site-specific installations. In Trace Elements, Melanie explored the notion of pi (π), the ratio of the circumference of a circle to its diameter, as a measurement that is seemingly infinitely imprecise. An ongoing focus of Melanie’s practice is on the incidental aesthetics of utilitarian design in the constructed environment and in nature. Melanie’s interest in geometric shapes is concerned with the arbitrary nature of the universe and the physical transformations that occur in the origins, evolution and deterioration of matter. Viscopy was honoured to showcase Hannah and Melanie’s works in Trace Elements.
Hannah Bertram Untitled, 2011 © Hannah Bertram. Photo by Cybele Malinowski
Melanie Irwin, Untitled (Five spheres), 2011 © Melanie Irwin. Licensed by Viscopy 2011 Photo by Cybele Malinowski
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john fries memorial prize 2011 for emerging visual artists The John Fries Memorial Prize for emerging visual artists is Viscopy’s annual award of $10,000. The prize is open to all artists resident in Australia and New Zealand who are not enrolled as a student and whose work is not represented in the collection of a regional, state, territory or national public art gallery. Artists of all ages and disciplines, whether members of Viscopy or not, are eligible to enter.
Sanné Mestrom Thinking Props, 2010 © Sanné Mestrom Photo by Cybele Malinowski
The John Fries Memorial Prize 2011 for emerging visual artists featured the works of fifteen finalists working across a range of media, including painting, glass, porcelain, photography, sculpture and video. The exhibition also presented works of interaction through site-specific and responsive installations involving robotics, touch, movement and sound. Irrespective of medium and method, each finalist mediated issues of relevance today; exploring frontiers between object and process, self and culture, interactivity and audience, technology and viscera, nostalgia and time. The commonality that binds all these artists is their drive to visually present to the public the value of ideas.
Venita Poblocki, Curator of John Fries Memorial Prize 2011. Lindy Lee; Artist and John Fries Prize guest speaker, Sanné Mestrom; Winner of the 2011 John Fries Prize, Vivienne Fries; John Fries Prize Benefactor
Finalists were Walter Brecely, Kristel Britcher, Heath Franco, Eva Hampel, Pauletta Kerinauia, Wade Marynowsky, Keiko Matsui, Sanné Mestrom, Erica Molesworth, Susie Nelson, Jennifer O’Brien, Kurt Sorensen, Cyrus Tang, Nathan Taylor, Karl Khoe & Tessa Zettel.
Entries for the John Fries Memorial Prize 2012 for emerging visual artists will open in early 2012 and the winner will be announced at an exhibition of the finalists’ works in late 2012.
Sanné Mestrom’s winning entry, Thinking Props, was selected by a panel of judges including Anna Davis, media artist and
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Museum of Contemporary Art curator, Hannah Bertram the 2010 John Fries Memorial Prize winner, Danie Mellor contemporary Indigenous artist and 2009 National Aboriginal & Torres Strait Islander Art Award winner and Kath Fries, artist and Viscopy Board member. The John Fries Memorial Prize 2011 for emerging visual artists was curated by Venita Poblocki.
b oa rd of direc t ors 2010-2011
Megan Cope
Tim Denny
Merilyn Fairskye
Kath Fries
Megan Cope is an emerging Indigenous artist. She is a descendant from the Quandamooka region (North Stradbroke Island) in South East QLD. Megan’s works have been exhibited in Australia and abroad, including in the ARC Biennial in Brisbane, the Koori Heritage Trust in Melbourne, and Wellington City Gallery in New Zealand. In addition, Megan has managed and curated several art spaces and projects. She was the Creative Director of the Brisbane Artist Run Initiatives (BARI) Festival from 2009-10. Megan is now a member of the Aboriginal art collective proppaNOW and currently manages the Salt Water Murris Quandamooka - Art Gallery on North Stradbroke Island.
Tim has worked in the field of copyright for more than 20 years, specialising in the intellectual property held in musical works. Tim is currently the Deputy Chief Financial Officer of APRA|AMCOS and in addition, manages the accounting function of the Australian Music Centre.
Merilyn Fairskye is a Sydney based artist. She uses video, photomedia and installation to engage with the mapping of bodies, identities and terrains in uncontrolled technological environments. Recent work has explored the aftermath of the1986 Chernobyl nuclear accident. Her work is represented in national and international collections. Merilyn is an Associate Professor at Sydney College of the Arts, University of Sydney and has previously served as President of the IMA, as Co-Chair, Artspace, Sydney and as a member of the Arts Advisory Committee of Arts NSW. Merilyn is a Viscopy member.
Kath Fries is a Sydney based artist working primarily in site-sensitive installation. She graduated with a BFA Honours from UNSW College of Fine Arts in 2002 and was awarded a post-graduate MVA from Sydney College of the Arts, University of Sydney in 2010. Recently Kath won the Japan Foundation New Artist Award and an Australia Council ArtStart Grant. Alongside her active art practice, Kath has also been employed in art education and art galleries in Sydney and London. Kath is a member of Viscopy and has been active in the establishment of the John Fries Memorial Prize for emerging artists.
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Des Griffin
Lynette Riley
Alida Stanley
Jeremy Thorpe
Chris Westworth
Des graduated with a Masters degree in science from Victoria University, Wellington, New Zealand and obtained his PhD from the University of Tasmania in 1966. He joined the Australian Museum in 1966 as an Assistant Curator eventually becoming the Director from 1976 through 1998. He is presently the Gerard Krefft Memorial Fellow (an honorary position) at the Australian Museum. Des has a long standing interest in the arts and has published extensively on many aspects of museums and relations with communities and with Indigenous peoples. Des was the first President of Museums Australia and was appointed a Member of the Order of Australia (AM) in 1990 in recognition of services to museums.
Lynette Riley is a Senior Lecturer at Sydney University with over 30 years experience in Aboriginal education, as a teacher and manager in primary, high schools, TAFE and universities. Lynette was a foundation member of the NSW Department of Education and Training Aboriginal Education Unit which created the first Aboriginal Education Policy in 1982, based on research Lynette undertook in 1980. Lynette helped establish the NSW Aboriginal Education Consultative Group and support programs at the Univeristy of New England, Oorala Centre (1986 – 1982).
Alida is the Chief Executive of Viscopy. Alida has practiced law for more than 10 years in Australia and New York specialising in intellectual property and information technology transactions, competition and regulatory law. On returning from the United States in 2005, Alida worked as the Senior Solicitor at the Arts Law Centre, and as a Solicitor in the Office of General Counsel at The University of Sydney. Alida has degrees in Arts and Law from the University of New South Wales. She currently sits on the boards of directors of Viscopy, the Copyright Council of Australia and Disabled Wintersport Australia, as well as the management committee of the Copyright Society of Australia.
Jeremy is a regulatory economist and a partner at PwC. One of his areas of specialisation is in the economic analysis of copyright issues. Such work includes: the determination of appropriate levels and structure of copyright licences and royalty rates, the assessment of the impact of piracy, the valuation of copyright industries, and the assessment of costs and benefits associated with changes to copyright law. Jeremy serves as chairman of the Viscopy board.
Chris is a former partner of Ernst & Young, having worked with the firm in the UK and Denmark before moving to Australia in 1985. He is currently Chairman for the Kolling Foundation and a board member for the Australian Institute of Management (NSW and ACT) and Viscopy. He was also a Former director of Pacific Opera. Chris holds a Bachelor of Law with honours from University of Bristol and both an FCA and MAICD.
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statement of comprehensive income for the year ended 30 june 2011 2011 $
2010 $
Revenue
3,225,364
3,895,584
Distributions to members
(2,287,173)
(2,884,215)
Auditors’ remuneration
(8,179)
(10,846)
Bad and doubtful debt expenses
(9,616)
-
Depreciation and amortisation expenses
(18,380)
(14,850)
Employee benefits expenses
(581,246)
(630,061)
Lease expenses
(2,706)
(2,422)
Other expenses
(469,264)
(366,127)
Loss
(151,200)
(12,937)
Retained earnings at the beginning of the financial year
422,918
435,855
Prior year adjustment for over-accrued royalty payable
110,179
-
Retained profit attributable to members of the company
381,897
422,918
statement of financial position as at 30 june 2011 2011 $
2010 $
Cash and cash equivalents
1,677,714
2,335,271
Trade and other receivables
1,420,569
229,475
7,396
5,156
3,105,679
2,569,902
Plant and equipment
87,759
106,139
TOTAL NON-CURRENT ASSETS
87,759
106,139
3,193,438
2,676,041
2,529,092
1,963,231
ASSETS CURRENT ASSETS
Other current assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS
TOTAL ASSETS LIABILITIES CURRENT LIABILITIES Trade and other payables Short-term provisions
22,448
29,892
TOTAL CURRENT LIABILITIES
2,551,541
1,993,123
TOTAL LIABILITIES
2,551,541
1,993,123
641,897
682,918
NET ASSETS EQUITY Reserves
260,000
260,000
Retained Earnings
381,897
422,918
TOTAL EQUITY
641,897
682,918
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auditors’ independence declaration under section 307c of the corporations act 2001 to the directors of Viscopy Limited
Auditors’ Independence Declaration Signed in accordance with a resolution of the Board of Directors:
Director:
Christopher Westworth
Director:
Jeremy Thorpe
Dated this 30th day of September 2011
We declare, that to the best of our knowledge and belief, during the year ended 30 June 2011 there have been: (i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and (ii) no contraventions of any applicable code of professional conduct in relation to the audit.
Name of Firm:
Rosenfeld Kant & Co, Chartered Accountants
Name of Partner:
Address: Level 24, 101 Grafton Street, Bond Junction NSW 2022 Dated this 30th day of September 2011
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Code of conduct As a recognised collecting society. Viscopy is bound by the Australian Code of Conduct for Copyright Collecting Societies.
Auditors Rosenfeld, Kant & Co. Level 24 Tower 2 101 Grafton Street Bondi Junction NSW 2022
Bank Westpac Kings Cross Sydney NSW 2000
Registered office address 1 Blackfriars Street Chippendale NSW 2008 Australia
ABN number ABN 98 069 759 922
Company Secretary Virginia Morrison
Opposite: Damien Hirst For the Love of God, 2007 Š Damien Hirst and Science Ltd. All rights reserved. DACS/Licensed by Viscopy, 2011
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