Effective financial reporting in the public sector brings accountability and transparency and supports trust in government. Most state sector entities prepare financial statements that are publicly available and tabled in parliament. 

This report summarises the results of our audits of financial statements for Queensland state government entities, including government departments, government owned corporations, and statutory bodies. The report also includes assessments of entities’ internal controls and processes, and highlights transactions or items of interest for the year.

In our 2026 report we will focus on:

• the findings from our 2025–26 financial audits on procurement activities, chief financial officer assurance statements, and grants administration and management 
• analysing the use of contractors and consultants
• the ongoing impacts of natural disasters and accounting implications
• improvements in the management and valuation of non-current assets
• an overview of the Queensland Procurement Policy 2026
• mandatory climate reporting
• Queensland Treasury’s FRaMES whole-of-government system aimed at modernising the financial reporting and budget management system.

Other areas we may analyse further this year include:

• the use of employee leave 
• the control environment established for the government’s new whole-of-government corporate card provider.