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.
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.
When designed and delivered well, government grants can help achieve important outcomes – from supporting communities and small businesses to encouraging innovation and investment.
In this blog, we summarise Queensland Treasury’s major changes in its 2024–25 Financial Reporting Requirements for Queensland Government Agencies (FRRs) and its Non-Current Asset Policies for the Queensland Public Sector (NCAPs) for this year.
The Queensland Audit Office’s annual update for clients’ chief financial officers, finance managers, and other staff involved in financial statement preparation is a key part of our engagement program.
How a ‘hard close’ audit can improve quality and bring more of our work forward
In 2024, the Queensland Audit Office (QAO) undertook a ‘hard close’ financial audit with some of our clients.
Financial statements can be difficult to understand for those who don’t have a strong finance or accounting background.
In this blog, we summarise Queensland Treasury’s major changes in its financial reporting requirements (FRRs) for this year.
A new reporting (and auditing) requirement has been introduced into the Corporations Act 2001 (Corporations Act), affecting public companies from the 30 June 2024 financial year end.