Volume Three 2013 focusing on New South Wales State Finances

NSW public sector financial reporting significantly improved
This year was the first time in over a decade the General Government and Total State Sector Accounts received an unqualified auditor’s opinion. This shows the government’s commitment to improve the quality of financial reporting across the NSW public sector.

“I am encouraged by the Treasurer actively engaging with agency Chief Financial Officers and Audit and Risk Committee Chairs to communicate at various forums the importance of accurate and timely financial information,” said Acting Auditor-General Tony Whitfield. The quality and timeliness of financial reporting across the NSW public sector has significantly improved. Notably, compared to last year, there was half the number of errors in agencies’ 2012-13 financial statements submitted for audit and used for whole-of-government financial reporting. 

“I am pleased that NSW Treasury has taken steps to further improve the accuracy and timeliness of information it uses to prepare whole-of-government financial reports,” said Tony Whitfield. “Treasury continues to implement a range of measures to improve public sector financial reporting,” he added.

One of the measures was tighter timeframes for preparing and auditing financial reports. This allowed the Audit Office to complete almost three times more audits by the end of September than in 2011.

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