Stock assessment is a set of tools and methods generally used to assess the status of wild capture fisheries stocks. They range from complex statistical and mathematical models, to simple, almost back of the envelope, methods. They are used to predict population size, quantify the impact of fisheries on the population and in some jurisdictions, provide key outputs needed in harvest strategies. There is a diverse range of methods in a field where practitioners have tended to produce home-grown tools in their favourite code languages (R, Fortran, C++, Visual Basic, ADMB etc.). The use of a specific model or method is often historical rather based on an objective evaluation of options e.g. the risk-cost-catch framework (see Method references). In recent years changes have occurred allowing some shift away from previous approaches:
• More off-the-shelf methods, with a diverse range of flexible features, have become available and some uptake has occurred e.g. Stock Synthesis (SS) (http://nft.nefsc.noaa.gov/SS3.html)
• There has been some convergence of language tools using the open source model (e.g. ADMB, Gnu and R)
• Stock assessment tool kits have become freely available e.g. the NOAA fisheries toolbox (http://nft.nefsc.noaa.gov/index.html)

However, in many cases it is still standard practice in Australia to develop home-grown models. Although this is not in itself an issue, it does not always allow for synergies and more cost effective practices. For example, it has become standard practice in the USA to have a model developed and maintained by a team, have it independently tested and then made available as an off-the-shelf GUI driven tool. Many stock assessment scientists now use these tools. In Europe, ICES also tends to use standard approaches.

There is a real need for a more strategic view of which framework Australia should adopt in the present climate of:
• Fewer finance and capability resources
• Data rich to data poor fisheries
• Small and large fisheries.

This review does not preclude the use of specific modelling.

Australian fisheries are based on a variety of private uses of resources that are communally owned. The separation of management and use from ownership means that there is a role for regular reporting of the performance of those fisheries. In this context, the use of appropriate indicators to report on how a fishery has performed is an essential part of ensuring the accountability of management. An important component of the management model that has been implemented for Commonwealth fisheries is the public accountability of AFMA.

The reporting of progress against AFMA’s economic efficiency objective has been poor. Information presented in the AFMA annual report has generally been limited to a discussion of changes in the gross value of production in Commonwealth fisheries — this provides little, if any, indication of changes in economic efficiency. The only other regularly published information relevant to the economic performance of Commonwealth fisheries is contained in the Australian Fisheries Survey Report, published annually by ABARE. For selected Commonwealth fisheries, these surveys provide information about the financial performance of the fishing fleet and estimates of the net economic returns from management. While net return estimates are a useful starting point for examining economic efficiency in a fishery, they do not account for the impact of exogenous factors such as changes in input and output prices, movements in exchange rates and variations in environmental factors.

There is a need for the development of suite of robust indicators of economic efficiency movements that can be effectively applied across Commonwealth fisheries. Once developed these indicators will provide a basis for reporting progress against the economic efficiency objective and, perhaps more importantly, provide fisheries managers with information to guide the development of economically efficient management policies. Management regimes, through controlling the total level of harvests (by whatever means) and contributing to the incentive structure that fishers operate within will determine whether a fishery is economically efficient.

This research is consistent with the Key Research Area 1.1 (b) identified in the AFMA Strategic Research Plan 1999-2004. It is also consistent with the Resources Sustainability: Status of fish stocks, environment and industry program of the Fisheries Resources Research Fund.