Annual Plan 2019–20

Tabled: 27 June 2019

Financial audit work program

Tangram

Our financial audit program delivers a range of assurance services for public sector agencies.

Financial audits are conducted in accordance with the Australian Auditing Standards and relevant professional and legislative requirements. Additional information about the delivery of our financial audits is in Appendix C.

The following section sets out our financial audit work program for 2019–20, targeting matters that provide the greatest value to Parliament and the Victorian community.

Our Audit Scope

Auditor-General's Report on the Annual Financial Report of the State of Victoria 2019–20

As required under section 16A of the Audit Act 1994, the Auditor-General reports to Parliament each year on the outcome of our audit of the Annual Financial Report of the State of Victoria.

This report analyses and provides commentary on key aspects of the financial performance and position of the state. In line with the Act, and where appropriate, it will provide information and recommendations for the more effective and efficient management of public resources. This report is tabled in Parliament in November each year. This is the only report on our audits that is required each year under the Act.

Results of 2019–20 Audits

Our Results of Audits reports to Parliament provide information on the outcome of our financial audits of the following sectors:

  • local government
  • technical and further education institutes
  • universities.

Each report will provide an analysis of the financial sustainability, performance and position of the sector. Additionally, it will inform Parliament about the strengths and weaknesses in the control environments at entities within the relevant sector and make recommendations to improve these as appropriate.

Our reports on the education sector table in Parliament in May each year. We expect to table our 2019–20 local government report in November 2019.

Attestation of agency statements

We are required to undertake annual audits of the financial statements of all state and local government agencies and express an audit opinion thereon.

We are also required to audit and express an opinion on performance statements where these are prepared by agencies.

We may be required to provide an audit opinion on a grant acquittal by an agency to the grant funding body.

During the 2019–20 financial year, we expect to issue the following:

Audit opinions

Opinions on the financial statements of agencies—560+

Opinions on the performance statements of agencies—110+

Opinion on the Annual Financial Report of the State of Victoria—1

Review opinion

Review of Estimated Financial Statements of the Victorian general government sector

Grant acquittal certifications

80+

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