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Reports

Published

Actions for Volume Two 2015 focusing on Universities

Volume Two 2015 focusing on Universities

Universities
Asset valuation
Compliance
Financial reporting
Fraud
Information technology
Internal controls and governance
Risk

Generally, NSW universities are in a sound financial position, but average operating margins are falling and operating expenditure is growing faster than operative revenue.   The university sector’s average operating margin fell from 6.6 per cent in 2013 to 4.8 per cent in 2014 and combined operating expenditure grew 0.9 per cent more than operating revenue. Employee expenses in 2014 increased by an average of 5.1 per cent and other expenses by 5.8

Published

Actions for Areas of focus from 2014

Areas of focus from 2014

Education
Community Services
Finance
Health
Industry
Justice
Local Government
Planning
Premier and Cabinet
Transport
Treasury
Universities
Whole of Government
Environment
Compliance
Financial reporting
Fraud
Information technology
Internal controls and governance
Procurement
Project management
Risk

The 2014 audits showed that the quality and timeliness of financial reporting have continued to improve. However, many agencies do not have financial sustainability indicators that provide early warning of management issues, such as an inability to meet financial obligations. Weaknesses were identified in information security, management of leave balances, asset management and internal controls.   Governance issues and gaps in performance informat

Published

Actions for Volume Two 2010 focus on Universities

Volume Two 2010 focus on Universities

Universities
Asset valuation
Compliance
Financial reporting
Fraud
Internal controls and governance
Management and administration
Workforce and capability

New South Wales’ ten universities recorded a combined operating surplus of $494 million compared to a deficit of $76.9 million last year, reflecting the improvement in global financial markets. This was largely due to investment gains of $38.0 million in 2009 compared to $405 million of losses in 2008. Despite this, financial risks remain for universities. With the recovery in global financial markets remaining fragile, universities with overseas operati