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Queenslanders rely on public sector entities and local governments to publish correct and current information about how they deliver public services.
Effective audit committees are integral to good governance over public sector entities. While many public sector entities now have audit committees in place, how effective are they?
Do you have a peppercorn lease? Peppercorn leases are leases with nominal rent. This might be $1, or even as low as a peppercorn.
Classifications will be reduced from four to two.
This checklist covers some key questions you should consider.
Regarding your entity and the transition to AASB 15 Revenue and AASB 1058 Income of Not-For-Profit Entities:
As technology opens doors for increased efficiency, connectivity and sharing, it opens our work and home to cyber risk. The controls we implement to address these cyber risks are often referred as cyber security.
AASB 15 applies to both for-profit and not-for-profit entities. For-profit entities must apply AASB 15 for financial years beginning on, or after, 1 January 2018.
Financial statements can be difficult to understand for those who don’t have a strong finance or accounting background.