Reports
Actions for One TAFE NSW modernisation program
One TAFE NSW modernisation program
The Auditor-General for New South Wales, Margaret Crawford, released a report today examining the management of the One TAFE NSW modernisation program. In 2016, the Government released 'A Vision for TAFE NSW' which stated that TAFE NSW needed to become more flexible, efficient and competitive. It set out the need to progressively reduce significant cost inefficiencies, including by moving away from separate institutes to a single institute model. TAFE N
Actions for Health 2020
Health 2020
This report analyses the results of our audits of financial statements of the Health cluster for the year ended 30 June 2020. The table below summarises our key observations. 1. Financial reporting Financial reporting Unqualified financial audit opinions The financial statements of NSW Health and its 25 controlled entities received unqualified opinions. The number of corrected and uncorrected misstatements increased from the pri
Actions for Transport 2020
Transport 2020
1. Financial Reporting Audit opinion Unmodified audit opinions issued for the financial statements of all Transport cluster entities. Quality and timeliness of financial reporting All cluster agencies met the statutory deadlines for completing the early close and submitting the financial statements. Transport cluster agencies continued to experience some challenges with accounting for land and infrastructur
Actions for State Finances 2020
State Finances 2020
The Auditor-General for New South Wales, Margaret Crawford, released her report today on State Finances for the year ended 30 June 2020. ‘I am pleased to once again report that I issued an unmodified audit opinion on the State’s consolidated financial statements,’ the Auditor-General said. The report acknowledges this has been a challenging year, with New South Wales impacted by natural disasters and the COVID-19 pandemic. The State’s Budget
Actions for Areas of focus from 2014
Areas of focus from 2014
The 2014 audits showed that the quality and timeliness of financial reporting have continued to improve. However, many agencies do not have financial sustainability indicators that provide early warning of management issues, such as an inability to meet financial obligations. Weaknesses were identified in information security, management of leave balances, asset management and internal controls. Governance issues and gaps in performance informat
Actions for Volume Ten 2013 focusing on Health
Volume Ten 2013 focusing on Health
Unqualified opinions were issued for all agencies audited in the following report. Some of the reports findings include: Most cultural bodies rely heavily on government grants to fund services The Sydney Opera House Trust earns most of its revenue from commercial operations Less than half of the 2014-16 service agreements between HealthShare NSW and its customers have been signed. HealthShare NSW and health entities should finalise t
Actions for Volume Eight 2013 focusing on Transport and Ports
Volume Eight 2013 focusing on Transport and Ports
Unqualified audit opinions were issued on the above corporations’ 30 June 2013 financial statements. During the year, Treasury issued TC 13/01 ‘Mandatory early close procedures for 2013’. This Circular aimed to improve the quality and timeliness of agencies’ annual financial statements. In 2012-13, application of the circular was made mandatory for State owned corporations. As a result, the port corporations were required to perform the early close proce
Actions for Volume Seven 2013 focusing on Superannuation and Insurance
Volume Seven 2013 focusing on Superannuation and Insurance
Unqualified audit opinions were issued on the NSW Government controlled insurance and compensation entities’ 30 June 2013 financial statements, except the NSW Self Insurance Corporation (SICorp). SICorp’s audit opinion was qualified due to non-compliance with Australian Accounting Standards applicable to general insurance contracts. The auditor’s reports drew attention to the significant uncertainty in estimating outstanding claims liabilities of $14.0 b
Actions for Volume Five 2010 focus on Public Financing Enterprises
Volume Five 2010 focus on Public Financing Enterprises
The report includes comments on NSW Treasury and agencies in the finance and superannuation sectors. The New South Wales public sector superannuation funds’ investments were $42.2 billion at 30 June 2010, up from $38.5 billion in 2009. Investment returns reached 14.5 per cent in 2009-10. This is a significant improvement on the investment returns of up to negative 18.4 per cent at the peak of the global financial crisis in 2008.
Actions for Volume One 2010
Volume One 2010
The report includes comments on his annual audit of entitlements paid to Members of NSW Parliament and financial audits of WorkCover, Justice Health, Waste Recycling Processing Corporation and some other NSW Government agencies. In his audit the Auditor-General had called for a system to be developed to ensure accrued loyalty/reward benefits are used to reduce Members’ parliamentary business travel expenditure, rather than be forfeited when a Memb