Appendix A. VAGO reports on the results of audits
Figure A1
VAGO reports on the results of the 2010–11 financial audits
Report |
Description |
|---|---|
Auditor-General's Report on the Annual Financial Report of the State of Victoria, 2010–11 |
6 Information technology controls
At a glance
Background
Information technology (IT) controls underpin the production of reliable, accurate and timely information, including financial reports. This Part provides our comments on the review of IT change management and IT security controls that apply to portfolio departments.
Conclusion
The management, governance and oversight of IT change management and security in portfolio departments is generally adequate. However, the related policies need to be strengthened.
5 Grants management
At a glance
Background
Grants are provided to organisations or individuals to support or contribute to the achievement of government policy outcomes. A total of $8 547 million was paid by the general government sector to entities not included within the Victorian state government.Conclusion
Grants administration policies and practices of the 11 portfolio departments were adequate. There are opportunities for improvement across the portfolio departments.
4 Management of employee leave
At a glance
Background
At 30 June 2011, portfolio departments employed approximately 24 730 full-time equivalent staff and had employee leave liabilities of $1 790.5 million.
Conclusion
Overall, leave management policies and practices were adequate. Notwithstanding, there were a range of deficiencies in leave reporting systems, management and oversight arrangements at portfolio departments that could be improved.
3 Financial sustainability
At a glance
Background
Financially sustainable entities have the capacity to meet current and future expenditure, and absorb foreseeable changes and risks without significantly changing their revenue and expenditure policies.
A financial sustainability assessment was undertaken for the 46 self-funded state entities as at 30 June 2011. The assessment is based on four financial sustainability indicators that consider both short- and long-term sustainability.
2 Quality of financial reporting
At a glance
Background
This Part covers the results of the 2010–11 audits of the 11 portfolio departments and 183 associated entities that had finalised their financial reports at the date this report was prepared.
1 Background
This is the fourth of six reports to be presented to Parliament covering the results of the 2010–11 financial statement audits. Appendix A lists the six reports and their tabling time frames.
The report comments on the quality of financial reporting, the effectiveness of internal controls, and financial sustainability of self-funded state entities.
Audit summary
Background
The Victorian public sector includes 11 portfolio departments and 201 associated entities through which the government delivers its policy objectives, services and public infrastructure. This report covers the outcomes and observations from the external financial audit of these 212 entities.
Each portfolio department and associated entity is required to prepare a financial report to inform Parliament and the community about the level of public resources and assets it holds and manages.
Portfolio Departments and Associated Entities: Results of the 2010–11 Audits: Message
Ordered to be printed
VICTORIAN GOVERNMENT PRINTER November 2011
PP No 85, Session 2010–11
Portfolio Departments and Associated Entities: Results of the 2010–11 Audits
Body
This report provides the results of the annual financial statement audits of approximately 210 entities. The report includes comment on the timeliness of Financial services and insurance, financial sustainability and reporting developments, and aspects of how grants administration, employee leave, information technology change, and information technology security are managed.