Search filters applied: planning, transport AND financial audit, special review AND 2018, 2017, 2016, 2012 AND asset valuation, regulation .
Actions for Planning and Environment 2018
The Auditor-General for New South Wales, Margaret Crawford, released her report today on the NSW Planning and Environment cluster. The report focuses on key observations and findings from the most recent financial audits of these agencies. Unqualified audit opinions were issued for all agencies' financial statements. However, some cultural institutions had challenges valuing collection assets in 2017–18. These issues were resolved before the financial st
Actions for Transport 2018
The Auditor-General for New South Wales, Margaret Crawford released her report today on key observations and findings from the 30 June 2018 financial statement audits of agencies in the Transport cluster. Unqualified audit opinions were issued for all agencies' financial statements. However, assessing the fair value of the broad range of transport related assets creates challenges. This repor
Actions for Planning and Environment 2017
The following report highlights results of financial audits of agencies in the Planning and Environment cluster. The report focuses on key observations and findings from the most recent audits of these agencies. The audits were completed for most agencies in the cluster and unqualified audit opinions issued. Issues identified during the financial statement audits of seven small agencies delayed their finalisation beyond the statutory deadline, and six o
Actions for Transport 2017
The following report focuses on key observations and findings from the most recent financial statement audits of agencies in the Transport cluster. Unqualified audit opinions were issued for all agencies' financial statements. However, the report notes the agencies can improve their asset revaluation processes. 1. Financial reporting and controls Audit opinions Unqualified audit
Actions for State Finances 2017
Total State Sector Accounts received an unqualified audit opinion for the fifth consecutive year. There was a $5.7 billion State budget surplus and continued investment in new infrastructure, in part funded by the long-term leases of Ausgrid and Endeavour Energy assets. This report also comments on key accounting matters, including the correction of some previously reported balances and the first time reporting of combined Cabinet members’ compensation
Actions for 2016 - An overview
This report focuses on key observations and findings from 2016 audits and highlights key areas of focus for financial and performance audits in 2017. The quality and timeliness of financial reporting continued to improve across the NSW public sector in 2016. Only one qualified audit opinion was issued and most agencies signed their financial statements on time. We found the Government’s cluster governance arrangements were unclear and inconsistently i
Actions for Planning and Environment 2016
Auditor-General, Margaret Crawford released a report on the planning and environment cluster today, concluding that the quality of financial reporting is improving. However, the cluster can improve its financial controls and governance framework.
Actions for Transport 2016
Financial reporting within the Transport Cluster continues to improve with reported misstatements down 96 per cent since 2011-12 to just three in 2015-16, according to a report released today by the NSW Auditor-General, Margaret Crawford.
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 A
Actions for Volume Four 2012 focusing on Electricity
The audits of the seven State owned electricity corporations resulted in unqualified audit opinions. The electricity corporations’ end-of-year financial reporting is sound and well established, he added. After tax profits rose to $1.2 billion, up from $1.1 billion in 2010-11 and contributions to Government rose to $1.4 billion, up from $1.2 billion in 2010-11. These figures exclude profits and special dividends from the 2010-11 electricity sale transacti