1 Audit context
Each year we audit the AFR, which measures the financial position of the state at the end of the financial year, and how it performed during the year.
Section 16A of the Audit Act 1994 requires that we report to Parliament on our audit. This report satisfies our obligation.
1.1 Entities included in the AFR
The AFR combines the financial results of 265 state-controlled entities. These are classified into three sectors: