With another 31 December financial year ending, finance teams across the state are pulling together financial statements for their entities.
Queenslanders may not be aware of the role or occurrence of government regulation in their day-to-day lives.
As cyber attacks continue, cyber risk has become one of the top enterprise-wide risks facing entities.
Most Queensland Government and local government entities revalue their land, buildings and infrastructure every year.
The day-to-day operations of public sector entities are getting busier all the time and changes to everyday activities can be seen as disruptive.
There has been an increase in entities across Australia facing payroll and remuneration compliance issues. Some have resulted in material underpayments to staff.
The Public Sector Ethics Act 1994 sets out ethical principles that local governments, statutory bodies, public universities and departmental employees and their contractors must follow.
Good internal controls provide reasonable assurance that an entity is achieving its operational, reporting, and compliance objectives. They also serve to protect an entity from fraud or error.
As our 31 December year-end clients finalise their financial statements, it’s a timely reminder to not make immaterial changes.