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Why audit committee independence matters more than ever
The Queensland Audit Office reports to parliament reinforce a clear and consistent message: independence is a key driver of effective audit committees.
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Use of digital technologies has increased the pace of disruption in every industry. The question now is whether the Queensland Government is keeping pace with this reality.
This year, we worked with state government entities and some larger local governments as they undertook an initial self-assessment of their financial statement preparation processes using the maturity model on our
The Queensland Audit Office (QAO) welcomes information on public sector performance and requests for audits from our clients, parliament, and the wider Queensland public.
Many public sector entities own and manage large asset portfolios amounting to many millions (or billions) of dollars. Management can make better decisions when they have good data about their assets.
In our recent Auditor-General’s insights report on audit committees in state government entities, we highlight the importance of audit committees and how they can catalyse better governance.
Risk appetite and risk tolerance continue to be important conversations in how the public sector applies risk management practices.
Members of project steering committees for major digital transformation projects need to be appropriately qualified and experienced to help ensure a successful project.
Many people worked from home on a full-time basis due to the COVID-19 pandemic and are now able to start returning to their workplaces. However, these workplaces are not the same environments they left.
Queensland Treasury Financial Reporting Requirements (FRRs) for 2019–20 are available on Queensland Treasury’s website: www.treasury
Appointing the right members to a council’s audit committee allows for informed, effective oversight. Effective audit committees have members with the right mix of skills and experience who understand the risks facing the entity.