The Audit Office is of the opinion that, while agencies are aware of the need to manage risk, their risk management falls short of better practice. Many agencies do not consider their risk management to be adequate. The survey suggests that some agencies, mainly those in the Public Trading Enterprise Sector have approached risk management in a systematic way and in accordance with the principles of better practice standards. Others, mainly departments not subject to commercial imperatives, have yet to progress the management of risk beyond the traditional response of insuring against the more common types of risk. Thus there is a danger that with a number of agencies, risk may not be managed adequately, especially in the General Government Sector.

Parliamentary reference - Report number #98 - released 19 June 2002

The Audit Office is of the opinion that the RTA is taking positive steps in planning for road maintenance and in many instances follows better practice. There are, however, some important improvements which need to be implemented in order to enhance the efficiency and effectiveness of that function.

Parliamentary reference - Report number #69 - released 1 December 1999

The Olympic Coordination Authority (OCA) has made a concerted and commendable effort in preparing the Games Budget within the definition of expenditure for the Games approved by the Government. OCA has also effectively used the definition of cost to control claims made by government agencies against the estimates to host the Games.

However, because the Games Budget was prepared in accordance with that definition, the Games Budget arguably does not capture the overall expenditure associated with the Games, as required by the Olympic Co-Ordination Authority Act. Accordingly, the taxpayers of NSW do not have a complete picture of the costs for hosting the Games.

Parliamentary reference - Report number #62 - released 14 January 1999