The Victorian public university sector comprises eight universities and their 48 controlled entities. Appendix B lists all entities. They principally provide higher education and conduct research. Figure 1A illustrates all main income sources, activities and key stakeholders for the sector.
Figure 1A
University sector 2019 income sources, activities and key stakeholders
| AASB | Australian Accounting Standards Board |
| ARC | Australian Research Council |
| CGS | Commonwealth Grants Scheme |
| CSP | Commonwealth supported place |
| DET | Department of Education and Training |
| EFTSL | equivalent full-time student load |
| EOM | emphasis of matter |
| F |
Victorian Auditor-General’s Report
Ordered to be published
VICTORIAN GOVERNMENT PRINTER June2020
PP No 139, Session 2018–20
Dear Presiding Officers
In Victoria, there are eight public universities, which control a further 48 entities that we are required to audit. Each year, we conduct the financial audits of these 56 entities.
This report outlines the results of these financial audits and our observations for the year ended 31 December 2019.
We discuss significant audit issues faced by the sector including implementation of the new accounting standards, and the impacts of COVID-19.
