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.
Each year, the Queensland Audit Office (QAO) holds an in-person and live-streamed event for all its clients’ chief finance officers and financial managers.
Departments and statutory bodies, including hospital foundations, are required to comply with Queensland Treasury’s Financial Reporting Requirements for Queensland Government Agencies (FRRs).
As another 30 June deadline looms, finance professionals across the Queensland public sector are beginning to prepare financial statements for their entities.
With another 31 December financial year ending, finance teams across the state are pulling together financial statements for their entities.
Last year’s hot topic has carried forward to this financial year – the implications of the IFRS Interpretations Committee’s (IFRIC’s) agenda decision Configuration or Customisation Costs in a Cloud Computing Arrangement (April 2021).
Internal controls are the people, systems, and processes that ensure an entity can achieve its objectives, prepare reliable financial reports, and comply with applicable laws.
The hot topic for this financial year appears to be the implications of the IFRS Interpretations Committee’s (IFRIC’s) agenda decision Configuration or Customisation Costs in a Cloud Computing Arrangement (April 2021)1.