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Why audit committee independence matters more than ever
The Queensland Audit Office reports to parliament reinforce a clear and consistent message: independence is a key driver of effective audit committees.
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Over the decades, accountants have embraced new technology to help them in their day-to-day work. It has evolved from the humble calculator, to spreadsheets, and more recently to automation and artificial intelligence (AI). So how can you use technology well to prepare your financial statements?
In September 2020, the Queensland Audit Office (QAO) tabled a report to parliament on Delivering successful technology projects (Report 7: 2020–21). Years have since passed, however our insights remain highly relevant.
Climate change is no longer a distant or emerging issue for the public sector. Extreme weather events, rising insurance costs, infrastructure damage, and increasing demand pressures are changing how public sector entities operate today.
Next week, 4–10 May 2026, Queensland celebrates Privacy Awareness Week with the theme Smart tech, smarter choices: Protecting your privacy in the age of AI.
Developer contributed assets are items of public infrastructure – such as roads, parks, water, and sewer network assets – that a developer constructs as part of a development approval and hands over to a council for its ownership and maintenance.
Think about how many third-party vendors your organisation relies on across your supply chain – information technology (IT) vendors, software development teams, accounting firms, marketing businesses, consultants; the list goes on!
Conflicts of interest are not uncommon on government boards. In fact, they are often a by‑product of appointing directors with the skills, experience, and sector knowledge needed to govern complex public entities. However, the same experience that adds value can also give rise to competing interests – actual, potential, or perceived. The risk for boards is not whether conflicts exist, but how they are managed.
The Queensland Audit Office’s annual update for chief financial officers, and entity staff who are involved in preparing financial statements, helps us collaborate on emerging issues and any changes to financial reporting or auditing requirements.
Through our audits of major capital projects, the Queensland Audit Office (QAO) has developed insights to assist our auditors and clients in determining when to start capitalising project costs. This blog shares these insights as a guide and outlines how we will engage with our clients.
Major infrastructure projects are increasingly complex, relying on contractors with specialised skills to deliver on time and within budget.