Audit Results Report - Annual 2017-18 Financial Audits of State Government Entities

Auditor General's overview

There is no doubt that we are in a period of extensive public sector reform. Machinery of Government (MoG) changes have touched many entities, and with that comes increased risk around governance and controls as people, systems and responsibilities move, merge and evolve.

This report summarises the results of our annual audits of 146 state government entities for the year ended 30 June 2018.

 

 

Report content

Executive summary
This Audit Results Report contains the findings primarily from the annual financial audits of state government entities with a 30 June 2018 reporting date. Read more...
Audit opinions
We issued audit opinions for 146 state government entities by 31 October 2018 relating to the 2017 18 financial year, and 136 certification opinions. Read more...
Management issues
We identified 300 financial management control weaknesses and reported them to entities in 2017-18, down from 453 in the previous year. Read more...
Other financial reporting, accountability and audit matters
This part of the report details matters of current significance and legislative compliance: Read more...
Audit of the Annual Report on State Finances
The Annual Report on State Finances (ARSF) reports on the State’s annual financial results and financial position and explains significant variations from the prior year and from the annual budget estimates. Read more...
Selected significant financial transactions and financial ratios
This section of the report provides information on selected significant financial transactions made in 2017-18 that we noted during our audits. Read more...
Key financial ratios of public sector entities
In this section we present selected key financial ratios and information commonly used for assessing financial performance or analysing the financial health of entities: Read more...
Quality and timeliness of reporting
Most state government entities prepared satisfactory quality financial statements and KPIs for 2017-18, however some still need to improve their quality review processes. Read more...
Other audit outcomes
Deciding what to audit is a key part of the Auditor General’s independence. Read more
Appendix 1: Entities audited
Audit opinions issued to 146 state government entities completed between 1 May 2018 and 31 October 2018 are listed below. Read more...
Appendix 2: Audit certifications
Audit work is also undertaken throughout the year to certify financial and statistical information produced by departments and statutory authorities. Read more...
Appendix 3: Royalties for Regions certifications
Clear certification opinions were issued for the annual Statements of Receipts and Payments of 121 approved projects funded under the Royalties for Regions Act 2009. Read more...
Glossary and abbreviations
AASB-Australian Accounting Standards Board ... read more