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Search filters applied: transport, treasury, whole of government AND 2012, 1998 AND asset valuation, internal controls and governance, procurement .

Published

Actions for Volume Eight 2012 focusing on Transport and Ports

Volume Eight 2012 focusing on Transport and Ports

Transport
Industry
Compliance
Financial reporting
Fraud
Information technology
Infrastructure
Management and administration
Procurement
Project management
Regulation
Risk
Workforce and capability

We issued unqualified audit opinions on the transport entities’ 30 June 2012 financial statements. Some of the findings of the report include: government funding to the public transport operators totalled $4.4 billion in 2011-12 ($3.7 billion in 2010-11) passenger services revenue only covered 20 per cent of RailCorp's operating costs Transport for NSW has formalised a protocol to mitigate the risk of potential conflicts of interests A

Published

Actions for Volume Five 2012 focusing on superannuation, compensation and housing

Volume Five 2012 focusing on superannuation, compensation and housing

Finance
Treasury
Premier and Cabinet
Community Services
Asset valuation
Compliance
Financial reporting
Information technology
Internal controls and governance
Procurement
Regulation

The NSW Government’s defined benefit superannuation funds have had positive returns for the last three years. However, the returns fell significantly in 2011-12. Global economic conditions led to substantial volatility and uncertainty in markets creating challenges for superannuation funds’ trustees.

Published

Actions for Volume Three 2012 focusing on New South Wales State Finances

Volume Three 2012 focusing on New South Wales State Finances

Whole of Government
Asset valuation
Compliance
Financial reporting
Internal controls and governance
Management and administration
Project management

A qualified audit opinion was issued on the Total State Sector Accounts for the year ended 30 June 2012. Qualified opinions have been issued every year for the past decade. The key issue contributing to past qualifications has been partially resolved, but new issues have arisen that impact the ability to confirm property, plant and equipment balances in 2011-12.

Published

Actions for Sale of the TAB

Sale of the TAB

Treasury
Internal controls and governance
Procurement

The Audit Office is of the opinion that: the sale was delivered with reasonable efficiency and effectiveness the sale yielded a satisfactory return to the NSW Government. The possibility for a higher return was limited to about 2% to 4% on gross proceeds of $936m. It would have required setting a higher share price for all investors and adopting a more flexible approach to share allocation the Government’s objective to promote community and

Published

Actions for On board: Guide to better practice for Public Sector governing and advisory boards

On board: Guide to better practice for Public Sector governing and advisory boards

Whole of Government
Internal controls and governance

In most organisations with a board or committee, there was confusion about the respective roles, powers, responsibilities and accountabilities of the Minister/s, the board and the Chief Executive Officer (CEO). There are a wide variety of governance arrangements in operation across the spectrum of boards and committees. This is partly due to differing arrangements set out in relevant legislation and gaps in legislative detail which have been addressed in