This session for departments and statutory bodies focussed on how QAO, in partnership with the public sector, can improve financial reporting. The audit update covered three interrelated topics: simplification of financial reports, addressing disclosure requirements of new accounting standards and accounting for organisational changes.
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We present information at events to raise awareness of current and emerging issues related to audit and financial management, sharing the insights we develop from the work we do.
- Client information briefings for public sector Chief Financial Officers and finance managers
- Briefings for public sector audit committee chairs
- Special events such as performance auditing conferences or briefings for parliamentary research directors
The Financial Accountability Act 2009 and subordinate legislation ensures agencies are held accountable for their performance by requiring them to publicly report results - through annual reports and the Service Delivery Statements. This accountability mechanism helps the community gain a better understanding of value of the government services being delivered to Queenslanders. The performance information can also be used to improve the efficiency and effectiveness of government services.
QAO provided the chairs of public sector audit committees with a brief on internal controls (Report 6: 2012-13), the results of a survey with the audit committee chairs and the results of QAO's client survey. The Strategic Audit Plan was also presented.
This briefing for chief financial officers and finance managers offered an overview of QAO's reports to parliament, including a brief from KPMG on a survey of fraud, bribery and corruption in Australia and New Zealand. QAO also provided a technical update.