Risk appetite and risk tolerance continue to be important conversations in how the public sector applies risk management practices.

Members of project steering committees for major digital transformation projects need to be appropriately qualified and experienced to help ensure a successful project.

Many people worked from home on a full-time basis due to the COVID-19 pandemic, and are now able to start returning to their workplaces. However, these workplaces are not the same environments they left.

Appointing the right members to a council’s audit committee allows for informed, effective oversight. Effective audit committees have members with the right mix of skills and experience who understand the risks facing the entity.

For many entities, disclosure about the impacts of COVID-19 in this year’s financial report and annual report will be a key point of difference compared to previous years.

COVID-19 has affected the cash flows of many public sector entities. Their ability to earn revenue may have decreased, potentially permanently, and they are implementing cost reduction strategies.

We have experienced COVID-19 impacts on working arrangements, our community and the economy. These impacts may result in material changes to the financial performance and position of many public sector entities.

COVID-19 has been testing the resilience and agility of entities as they tackle looking after their people and managing sustainable operations. The health crisis also impacts many entities’ internal control environments and financial results.

Security organisations have observed a significant increase in attacks by criminal hackers who are attempting to take advantage of the extraordinary circumstances the COVID-19 crisis presents.

This article considers some of the issues arising from the current COVID-19 (coronavirus) pandemic in determining fair value for financial reporting.