Volume Four 2014 focusing on New South Wales State Finances

NSW public sector financial reporting continues to improve but more can be done

For the second consecutive year, the General Government and Total State Sector Accounts received an unqualified auditor’s opinion following more than a decade of qualifications.

The quality and timeliness of financial reporting across the NSW public sector has continued to improve. Compared to previous years, there were fewer errors in agencies’ 2013–14 financial statements submitted for audit and used for whole-of-government financial reporting.

‘I am pleased NSW Treasury has continued to successfully implement measures to improve the accuracy and timeliness of the financial information it publishes,’ said the AuditorGeneral, Grant Hehir.

Further improvements to financial management across the sector are desirable.

‘Agencies have been broadly successful in performing early close procedures for yearend reporting purposes. Moving to more regular and frequent preparation of financial reports during the year will further improve financial management across the sector,’ he added.

Further information

Barry Underwood, Executive Officer, on 9275 7220 or 0403 073 664, barry.underwood@audit.nsw.gov.au