Compliance with the Asset Management Accountability Framework
Victoria's roads, railways, schools, prisons and hospitals are part of the $265 billion of non-financial assets that government departments and agencies manage. Managing these assets well is important because they support the delivery of services that affect all Victorians. Despite this, many of our audits show that asset management is often neglected or poorly done, with more focus on building or buying new assets than on managing them strategically to get the best value from them.
Managing the Environmental Impacts of Domestic Wastewater
Rehabilitating Mines
Protecting Critically Endangered Grasslands
This audit looked at whether the management of native vegetation clearing is protecting state and nationally significant native vegetation in the extended urban growth boundary areas. We focused on the Melbourne Strategic Assessment. Under this program, Victoria committed to establishing two grassland reserves by 2020 to offset native vegetation lost due to development in Melbourne’s extended urban growth boundary. We looked at how the Department of Environment, Land, Water and Planning is implementing this program and Parks Victoria’s ongoing management of the reserves.
Sexual Harassment in the Victorian Public Service
Sexual harassment is harmful, unlawful and, in some instances, a criminal offence. Its impact on individuals and organisations can be significant.
We examined whether the Victorian public service provides workplaces that are free from sexual harassment. We looked at whether all eight departments effectively prevent, report and respond to sexual harassment.
Appendix F. Acronyms and glossary
Acronyms
AAS—Australian Auditing Standard
AASB—Australian Accounting Standards Board
DELWP—Department of Environment, Land, Water & Planning
DTF—Department of Treasury & Finance
ESC—Essential Services Commission
FMA—Financial Management Act 1994
FRD—Financial Reporting Direction
MRD—Ministerial Reporting Direction
VAGO—Victorian Auditor-General's Office
VGV—Valuer-General Victoria
WIRO—Water Industry Regulatory Order
Appendix E. Asset valuation framework
Figure E1 shows the key elements of an effective asset valuation framework. Part 4 discusses the results of the 2015–16 valuation exercise.
Figure E1
Key elements of an effective asset valuation framework
Elements |
|
---|---|
Policy |
|
Measurement and valuation of non-current physical assets policy and guidelines exist and: |
Appendix D. Financial sustainability risk indicators
This Appendix sets out the definitions and criterion applied in this report from prior years that assist us in conducting our assessment of risks to financial sustainability across the water sector.
The financial sustainability indicators used in this report are indicative and highlight risks to ongoing financial sustainability at a sector and cohort level—metropolitan, regional urban and rural.
Appendix C. Management letter risk ratings
Figure C1 shows the risk ratings applied to management letter points raised during an audit.
Figure C1
Risk definitions applied to issues reported in audit management letters
Rating |
Definition |
Management action required |
---|---|---|
Extreme |
The issue represents: |