Appendix G: Financial and non-financial sustainability indicators
Download a PDF copy of Appendix G: Financial and non-financial sustainability indicators.
Appendix F: Control issue risk ratings
Download a PDF copy of Appendix F: Control issue risk ratings.
Appendix E: Audit opinions
Download a PDF copy of Appendix E: Audit opinions.
Appendix D: Abbreviations, acronyms and glossary
Download a PDF copy of Appendix D: Abbreviations, acronyms and glossary.
Appendix C: Our audit approach
Download a PDF copy of Appendix C: Our audit approach.
Appendix B: Sector context
Download a PDF copy of Appendix B: Sector context.
Appendix A: Submissions and comments
Download a PDF copy of Appendix A: Submissions and comments.
3. Internal controls
TAFEs’ internal controls are adequate for them to prepare reliable financial reports and performance statements. But they need to improve their information technology (IT) controls. These issues could prevent TAFEs from preparing reliable financial reports or protecting their sensitive data.
2. Financial analysis
The sector’s financial performance improved in 2022 because of financial support received from government to TAFEs. This support helped pay employee costs and maintain assets. Four TAFEs also had loans forgiven by the Victorian Government. Financial performance would have declined without this financial assistance.
1. Audit outcomes
We provided clear audit opinions on financial reports and performance statements across the Technical and Further Education (TAFE) sector. Parliament and the community can confidently use these reports.
Financial reports and performance statements are reliable
The TAFE sector
There are 12 TAFEs and 14 controlled entities in the Victorian TAFE sector.