Australian Government Consultative Committee on Knowledge Capital (AGCCKC)
Economic commentators regard knowledge-based innovation as the key driver of wealth creation in contemporary society, but current management practices still lack objective and reliable standards for assessing knowledge-intensive resources. More than 60% of organisational assets are tied up in ‘intangibles’, which under existing accounting rules are neither represented nor valued.
The problem was recognised in 2002 at the GAP Vendor Management & Outsourcing Forum in Sydney, when keynote speaker Paul Strassmann introduced his concept of Knowledge Capital to a distinguished audience of senior government figures and business executives.
The recommendations from the Forum were taken up by the Australian Government Information Management Office (former NOIE) and the Department of Finance, which joined forces to form the Australian Government Consultative Committee on Knowledge Capital (AGCCKC).
The AGCCKC was inaugurated in Canberra in June 2003. Drawing on a wide network of leaders from the public and private sectors, the AGCCKC led a number of pilot projects to build recognition of knowledge capital and develop universal standards for its assessment in the financial reporting of government affairs and private enterprise. Its efforts culminated in the signing of the ‘Melbourne Protocol’ for the management, measurement and reporting of intangible assets at the 2005 GAP Congress on Knowledge Capital in Parliament House of Victoria and the announcement of the Society for Knowledge Economics (SKE).
Another significant achievement of the AGCCKC was the creation of the Cross Jurisdictional Chief Information Officers’ Committee (CJCIOC) under the auspices of the AGIMO in August 2005. Reporting to the Ministerial Online and Communications Council, the CJCIOC provides leadership to all areas of government on implementing national strategic approaches to ICT across government. The committee is chaired by the Australian Government Chief Information Officer and comprises CIOs from all states and territories, as well as a representative from the Australian Local Government Association.