The Queensland Audit Office (QAO’s) financial statement maturity model helps entities identify strengths and improvement opportunities in their financial reporting processes.

Risk management has never been more important than it is now. Today’s global risk landscape has a wide range of more complex risks that hit harder, come faster, are interlinked, and bring more profound disruptions.

One of the biggest issues we find when entities engage contractors and consultants, particularly for long-term contracts, is it’s often unclear if the contract delivered all that was intended.

When it comes to performance monitoring, early planning is essential to set yourself up for success.

One of the biggest risks when an entity engages a contractor or consultant is the outsourced project or service costing more than first anticipated.

Measuring, monitoring, and reporting performance is essential to the success of any organisation.

Financial statements are a key accountability document for public sector entities. They provide parliament and members of the public with important information about the operations and financial performance of public sector entities.

In this blog, we summarise Queensland Treasury’s major changes in their financial reporting requirements (FRRs) for this year.

To ensure we select audit topics that matter most to Queensland, we apply a strategic planning approach to identify the risks and opportunities facing public service delivery, and align our audit topics in response.

Councils collectively spend approximately $8 billion each year in procuring goods and services.  Having strong procurement processes is crucial to ensure that public monies are wisely spent.