The Queensland Audit Office (QAO) has the privilege of auditing all Queensland public sector entities and local governments, meaning our work extends well into the state’s regions.

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.

Financial uncertainty, disrupted working arrangements, and health concerns are creating stress within workforces and impacting the future of organisations globally.

The Office of the Chief Advisor—Procurement has published new guidelines for disclosing government-awarded contracts. And for using and disclosing confidentiality provisions.

Simplifying financial reporting is an ongoing process of change.

Each year financial reporting teams, audit committees and auditors should work together to identify new areas for improvement and focus.