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Conflicts of interest are not uncommon on government boards. In fact, they are often a by‑product of appointing directors with the skills, experience, and sector knowledge needed to govern complex public entities. However, the same experience that adds value can also give rise to competing interests – actual, potential, or perceived. The risk for boards is not whether conflicts exist, but how they are managed.

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.