Audit Results Report - Annual 2018 Financial Audits

Report 19

Auditor General's overview

This report summarises the results of the annual audits of the 4 public universities, their subsidiaries and the 5 TAFEs for the 31 December 2018 reporting year. The report also contains the results of a small number of other annual audits of statutory authorities, local government entities and cemetery boards.

We issued clear (unqualified) opinions for all the universities and TAFEs on their financial statements, controls and key performance indicators.

 

 

Report content

Executive summary
This report contains the findings primarily from the financial audits of universities and TAFEs for reporting periods ending on 31 December 2018, and other audits finalised since the date of our last results report. Read more...
Audit opinions for universities, TAFEs and others
Management of the universities and TAFEs are responsible for keeping proper accounts and records to enable the timely and accurate preparation of financial reports. Read more...
Management and reporting issues at universities and TAFEs
Every entity is responsible for developing and maintaining an internal control system and procedures to ensure legislative compliance...
Universities’ financial performance in 2018
Australian universities adopted accounting standard AASB 9 Financial Instruments for the first time in their 31 December 2018 financial reporting. Read more...
Universities’ graduate survey information
This section presents survey results of students graduating from university. These survey results are not usually reported in each university’s annual report. Read more...
TAFEs’ financial and other performance in 2018
The reduced disclosure requirements prescribed by AASB 1053 Application of Tiers of Australian Accounting Standards, is included in Treasurer’s Instruction 1107...
TAFE student and graduate survey information
TAFE students’ satisfaction surveys are conducted by the DTWD, and the National Centre for Vocational Education Research (NCVER) also surveys TAFE graduates at the end of each year. Read more...
Appendix 1: Other audit opinions issued since 1 November 2018
Appendix 2: Certifications issued since 1 November 2018, including Royalties for Regions
Appendix 3: Universities’ and TAFEs’ expenditure and sources of revenue
Glossary