This is a common question about the work that we do at Queensland Audit Office (QAO).

Financial loss is something entities clearly work hard to avoid, but if it does happen, entities can learn from their experiences and allow us to share common insights and advice with others.

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.

Legacy systems are the outdated technologies, hardware or software that organisations use even though they cannot be effectively maintained and no longer remain secure.

Governments often need to make decisions and implement policies in a rapidly evolving environment, such as when responding to natural disasters or other economic and environmental crises. The urgency of the COVID-19 pandemic is a similar example.

Queenslanders rely on public sector entities and local governments to publish correct and current information about how they deliver public services. Providing this information has many benefits, including:

Departments and statutory bodies, including hospital foundations, are required to comply with Queensland Treasury’s Financial Reporting Requirements for Queensland Government Agencies (FRRs).

The Queensland Government plans to spend billions of dollars on infrastructure projects over the coming years, and with Brisbane recently announced as host city for 2032 Olympic Games, further expenditure is expected.

Financial statements are prepared at a point in time, so the relevance of the information they contain reduces the longer it takes for entities to publish them.