"The mace is a symbol of excellence and recognition of a side's outstanding achievement in the toughest format of the sport. Australia's winning performances have been exceptional and they thoroughly deserve to be awarded the mace." said Mr Richardson.
"These are exciting times for Test cricket as the top four ranked countries are involved in high profile series across three different continents showcasing the very best this format of the sport has to offer. I am sure the incentive of achieving the number-one ranking will further motivate them, bringing out the best in the players," added Mr Richardson.
Australia, under Smith's leadership, won 10 Tests in the 12-month period as on the cut-off date of April 1. On receiving the mace, a pleased Smith said: "It is a huge honour to be the number-one ranked Test side in the world and the credit should go to all the work the players and support staff have put in over the last 12 months.
"I am really proud of our young team and what we have accomplished so far but there is still more we would like to achieve. We now need to put in consistent performances, both at home and away, to continue to be successful and keep the number-one ranking.
"Winning away from home has often been a challenge for us, especially in sub-continental conditions, but this is something we are looking to change in this upcoming series against Sri Lanka," concluded Smith.
Given the small margin of gap between the top-four sides, several permutations exist for India, Pakistan and England to usurp Australia. Second-placed India (112) are breathing down Australia's neck with just six points separating the two teams. Pakistan are third on 111, while England lie fourth, on 108 points. To keep a hold on the top spot, Australia need at least a 1-0 win over Sri Lanka, and need England to beat Pakistan in at least one Test.
For India to pip Australia, however, they will need to beat West Indies 4-0 and hope the England-Pakistan series ends in a draw and also Sri Lanka wins by 1-0 or a better margin.
Pakistan can claim the top spot for the first time in history if they beat England and Sri Lanka beats Australia.
For England, it seems a bit of an uphill climb as, they will need to beat Pakistan in the remaining three Tests, apart from needing West Indies to beat India in at least one Test. They'll also need Sri Lanka to beat Australia.
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