Financial audits provide an independent opinion on NSW Government agencies’ financial statements. They identify whether agencies comply with accounting standards and relevant laws, regulations and government directions. We also audit the Total State Sector Accounts, a consolidation of all agencies’ accounts.
Financial audits are designed to add credibility to financial statements, enhancing their value to end-users. Also, the existence of such audits provides a constant stimulus to agencies to ensure sound financial management.
A report on each financial audit is provided to the minister responsible for the agency, to the agency, the Treasurer and to parliament through the Auditor-General’s Reports to Parliament.
As of 2016-17, the Audit Office is also conducting financial audits within the NSW local government sector.
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Performance audits build on our financial audits by reviewing whether taxpayers' money is spent efficiently, effectively, economically and in accordance with the law. These audits may review all or part of an agency’s operations. Some audits consider particular issues across a number of agencies.
Results of these audits are reported to the chief executive officer of the agency concerned, the responsible minister, the Treasurer and parliament. Final draft reports are given to the agency (as required by our legislation) and we include the agency’s response to our audit in our Auditor-General’s Report to Parliament.
As of 2016-17, the Audit Office is also be conducting performance audits within the NSW local government sector.
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Special reports seek to confirm that specific legislation, directions and regulations have been adhered to by government agencies.