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Reports

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

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 Monitoring Local Government

Monitoring Local Government

Local Government
Premier and Cabinet
Compliance
Internal controls and governance
Management and administration

The Division of Local Government (DLG) has helped many NSW councils improve their long-term financial planning and asset management practice. Many councils are serving their communities well. However, because DLG lacks the power, it finds it difficult to respond effectively when things go wrong.   Parliamentary reference - Report number #225 - released 26 September 2012