Portfolio Departments and Associated Entities: Results of the 201011 Audits

Tabled: 23 November 2011

The Victorian public sector includes 11 portfolio departments and 201 associated entities through which the government delivers its policy objectives, services and public infrastructure. This report covers the outcomes and observations from the external fiancial audit of these 212 entities.

At the date of preparation of this report, clear audit opinions had been issued for all 11 portfolio departments and the 183 associated entities who had completed their financial statements.

For the 46 self-funded entities, the most significant challenge facing their finanical sustainability is self-financing, with 23 entities generating insufficient cash from operations to fund new assets and asset renewals. Twelve entities were rated as a high financial sustainability risk.

Leave management and grant management practices in the 11 portfolio departments were adequate.

Weaknesses were identified in IT change management at the 11 portfolio departments, CenITex and Shared Business Systems. Similarly, management, governance and oversight of IT security was adequate at the portfolio departments, CenITex and Shared Business Systems. However, IT security policies could be stengthened.

 

 

 

 

 

 

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