Survey of Financial Audit clients

In 2015–16, the Chief Financial Officers of 356 agencies subject to a financial audit by VAGO were invited to participate in a survey and 295 responded, a response rate of 83 per cent.

VAGO seeks feedback in three areas—audit process, audit reporting and audit value. The overall score is an average of the result for these three areas.

Overall the results were positive. However, there was a slight decline in the audit process area in 2015–16.

2015–16 aggregate performance indices with historical comparisons

Audit process

Clients acknowledge the professionalism, skills and knowledge of VAGO staff.  Areas that clients would like VAGO to focus on for improvement include:

  • continuity of auditors
  • timely conduct of the audit program
  • auditors responsiveness

Audit reporting

Consistent with audit process results, clients indicated that VAGO can improve on the timeliness of the Auditor-General's audit opinion and the issuing of management letters.

They agree that through our management letters we clearly communicate the audit findings and issues.

Audit value

The majority of clients agree that they place value on the assurance they obtain from VAGO’s statutory audit.

An area for improvement continues to be the usefulness of VAGO's annual reports to Parliament. VAGO will pursue ways to improve the usefulness of these reports.

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Last updated on 3/03/2017