Victorian Auditor-General's Office

5 Monitoring implementation of audit actions

At a glance

Background

Where significant risks have been identified through audits and agencies have committed to addressing those risks through proposed actions, it is important that actions are completed in a timely manner and in a way that fully addresses the underlying issues. If not, the agency could be exposed to risk.

Audit committees have a key role in monitoring agencies' implementation of agreed actions agreed in response to internal and external audits.

4 Oversight of internal

At a glance

Background

For an audit committee, the internal audit function is a major source of information and assurance about the agency's performance and risk management activities. The audit committee has a key role in directing and reviewing internal audit.

1 Background

1.1 Introduction

1.1.1 The importance of good public sector governance

Good governance is integral to the Victorian public sector effectively managing its operations, conforming to applicable legislative and policy requirements, and being accountable for the expenditure of public funds and the achievement of outcomes. Good governance also assists in meeting public expectations of transparency and integrity and enhances confidence in decisions and actions.

Audit Committee Governance

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This audit examined the effectiveness of governance arrangements for public sector audit committees, including their composition, operational arrangements and the information they received.

Annual Plan 2017–18

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Section 7A of the Audit Act 1994 requires the Auditor-General to develop an annual plan and present it to Parliament, following consultation with Parliament's Public Accounts and Estimates Committee. The annual plan is a key accountability mechanism for the office of the Auditor-General. It gives Parliament, the public sector and the community an opportunity to assess our goals, understand our audit priorities and scrutinise our program. It sets out, for the coming financial year, our work program and the resources required to implement the program.

Appendix A. Audit Act 1994 section 16—submissions and comments

Introduction

In accordance with section 16(3) of the Audit Act 1994, a copy of this report, or part of this report, was provided to the Department of Treasury & Finance, the Department of Premier & Cabinet, the Department of Environment, Land, Water & Planning, the Department of Economic Development, Jobs, Transport & Resources, the Red Tape Commissioner, the Commissioner for Better Regulation, WorkSafe, VicRoads, Consumer Affairs Victoria (part of the Department of Justice & Regulation) and the Environment Protection Authority Victoria (under the

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