In a report released today, the NSW Auditor-General, Margaret Crawford provides a snapshot of reported fraud in the NSW public sector and an analysis of NSW Government agencies’ fraud controls based on a survey of 102 agencies.
Actions for Volume Eight 2012 focusing on Transport and Ports
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