When designed and delivered well, government grants can help achieve important outcomes – from supporting communities and small businesses to encouraging innovation and investment.

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.

Each year, the Queensland Audit Office (QAO) holds an in-person and live-streamed event for all our clients’ chief financial officers, finance managers, and other staff involved in financial statement preparation.

Financial statements are a key accountability document for public sector entities. They provide parliament and members of the public with important information about the operations and financial performance of public sector entities.

In this blog, we summarise Queensland Treasury’s major changes in its financial reporting requirements (FRRs) for this year.