Losses | Queensland Audit Office

Section 16(3) of the Financial and Performance Management Standard 2019 requires the accountable officer or statutory body to notify the Auditor-General of a material loss. Material loss is defined in the schedule as:

for property that is money – a loss of more than $500
for other property – a loss valued by the accountable officer of the department or the statutory body at more than $5,000.

Section 307A of the Local Government Regulation 2012 requires the chief executive officer to notify the Auditor-General of a material loss that is a reportable loss. Material loss and reportable loss are defined as:

Material loss, for an asset belonging to a local government, means:
(a) for money – a loss of more than $500
(b) for any other asset – a loss valued by the chief executive officer at more than $1,000.

Reportable loss, for an asset belonging to the local government, means a loss resulting from:
(a) the commission of an offence under the Criminal Code or another Act
(b) the corrupt conduct of a councillor, local government employee or local government worker
(c) conduct of a contractor of the local government that would be corrupt conduct if the contractor were a councillor, local government employee or local government worker.

First name

Last name

Email address

Phone number

Organisation

What are the amounts involved? Are they material?

What are the details of the issues and what evidence do you have?

Action taken

Outcome of any investigation

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