Many organisations often underestimate the importance and value of a comprehensive contract register. 

This is a common question about the work that we do at Queensland Audit Office (QAO).

Governments often need to make decisions and implement policies in a rapidly evolving environment, such as when responding to natural disasters or other economic and environmental crises. The urgency of the COVID-19 pandemic is a similar example.

Queenslanders rely on public sector entities and local governments to publish correct and current information about how they deliver public services. Providing this information has many benefits, including:

The Queensland Government plans to spend billions of dollars on infrastructure projects over the coming years, and with Brisbane recently announced as host city for 2032 Olympic Games, further expenditure is expected.

Financial statements are prepared at a point in time, so the relevance of the information they contain reduces the longer it takes for entities to publish them.

Appointing the right people to the board of a large government entity ensures it has the right mix of skills needed to implement its strategies.

Many entities have experienced difficulties with supply chains and accessing specialised labour due to ongoing global events.

As another 30 June deadline looms, finance professionals across the Queensland public sector are beginning to prepare financial statements for their entities.

Management reporting is a critical process that gives your entity’s leaders the information they need to make important decisions.