| APS | Australian Public Service |
| DHS | Department of Human Services |
| DOJ | Department of Justice |
| DOT | Department of Transport |
| DPI | Department of Primary Industries |
| FMA | Financial Management Act 1994 |
| FTE | Full-time equivalent |
| IT | Information Technology |
| SBS | Shared Business System |
| VFMC |
Figure A1
VAGO reports on the results of the 2010–11 financial audits
Report |
Description |
|---|---|
Auditor-General's Report on the Annual Financial Report of the State of Victoria, 2010–11 |
Information technology (IT) controls underpin the production of reliable, accurate and timely information, including financial reports. This Part provides our comments on the review of IT change management and IT security controls that apply to portfolio departments.
The management, governance and oversight of IT change management and security in portfolio departments is generally adequate. However, the related policies need to be strengthened.
Grants administration policies and practices of the 11 portfolio departments were adequate. There are opportunities for improvement across the portfolio departments.
At 30 June 2011, portfolio departments employed approximately 24 730 full-time equivalent staff and had employee leave liabilities of $1 790.5 million.
Overall, leave management policies and practices were adequate. Notwithstanding, there were a range of deficiencies in leave reporting systems, management and oversight arrangements at portfolio departments that could be improved.
Financially sustainable entities have the capacity to meet current and future expenditure, and absorb foreseeable changes and risks without significantly changing their revenue and expenditure policies.
A financial sustainability assessment was undertaken for the 46 self-funded state entities as at 30 June 2011. The assessment is based on four financial sustainability indicators that consider both short- and long-term sustainability.
This Part covers the results of the 2010–11 audits of the 11 portfolio departments and 183 associated entities that had finalised their financial reports at the date this report was prepared.
This is the fourth of six reports to be presented to Parliament covering the results of the 2010–11 financial statement audits. Appendix A lists the six reports and their tabling time frames.
The report comments on the quality of financial reporting, the effectiveness of internal controls, and financial sustainability of self-funded state entities.
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 financial audit of these 212 entities.
Each portfolio department and associated entity is required to prepare a financial report to inform Parliament and the community about the level of public resources and assets it holds and manages.
Ordered to be printed
VICTORIAN GOVERNMENT PRINTER November 2011
PP No 85, Session 2010–11