Victorian Auditor-General's Office

1 Audit context

Internal audit is a key pillar of good governance. It provides the audit committee, the Secretary of a department, senior executives and stakeholders with an independent view on whether the department has an appropriate risk and control environment. It also helps promote a strong risk management and compliance culture within a department.

According to the IIA, internal audit helps a department accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, internal controls and governance processes.

Audit overview

Internal audit is intended to be an independent, objective assurance and consulting activity designed to add value and improve an agency's operations. It can be an important part of the internal control framework and help an agency accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, internal controls and governance processes.

Acronyms

ANAO Australian National Audit Office
CAE Chief audit executive
CFO Chief financial officer
DEDJTR Department of Economic Development, Jobs, Transport and Resources
DELWP Department of Environment, Land, Water and Planning
DET Department of Education and Training
DHHS

Message

Ordered to be printed

VICTORIAN GOVERNMENT PRINTER August 2017

PP No 257, Session 2014–17

The Hon. Bruce Atkinson MLC

President

Legislative Council

Parliament House

Melbourne
 
Hon Colin Brooks MP

Speaker

Legislative Assembly

Parliament House

Melbourne
 

Dear Presiding Officers

Audit Summary

This report details the outcomes of the 2014–15 financial audits of Victoria's 19 water entities.

The report identifies and discusses the key issues within the water sector that arose during our audits, and provides an analysis of information included in water entity financial reports and performance reports. It is one of a suite of Parliamentary reports on the results of the 2014–15 financial audits conducted by VAGO.

ICT Disaster Recovery Planning

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As computer systems become increasingly critical to the operations of government agencies, effective planning and processes to manage disruptions are vital for ensuring Victorians can continue to access public services. In this audit, we look at whether the ICT systems in Victorian Government departments and Victoria Police can be effectively recovered in the event of a disaster.

Internal Audit Performance

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In this audit, we examined the internal audit functions of all seven Victorian Government portfolio departments and assessed how well they use their internal audit resources. We evaluated the role and positioning of the internal audit function within departments, its independence and objectivity, the alignment of internal audit plans with departmental goals and risks, quality assurance and resourcing, performance against stakeholder expectations, and the communication of internal audit outcomes and insights.

Local Government Assets: Asset Management and Compliance

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At 30 June 2018, the 79 Victorian councils controlled $102.1 billion in assets and infrastructure, including land, roads, buildings, drains, footpaths and bridges. Our previous audits of councils' asset management practices over the past 15 years have identified persistent weaknesses in their asset management. Councils require accurate asset information to comply with state and federal disaster response programs—if their asset management programs are noncompliant, they risk being unable to access funding.

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