In accordance with section 16A and 16(3) of the Audit Act 1994 a copy of this report, or relevant extracts from the report, was provided to the Treasurer and all relevant agencies with a request for submissions or comments.
The submissions and comments provided are not subject to audit nor the evidentiary standards required to reach an audit conclusion. Responsibility for the accuracy, fairness and balance of those comments rests solely with the agency head.
| AFR | Annual Financial Report of the State of Victoria |
| BER | Building the Education Revolution |
| DBI | Department of Business Innovation |
| DEECD | Department of Education and Early Childhood Development |
| DHS | Department of Human Service |
| DOH | Department of Health |
| DOJ | Department of Justice |
| DOT | Department of Transport |
| DPC | Department of Premie |
Figure C1
Material entity results against Department of Treasury and Finance
milestone dates
Draft financial reports |
Finalisation of the financial report including audit opinion |
|---|
Figure B1
General government sector
Entity |
|---|
Austin Health |
Alfred Health |
Barwon Health |
Country Fire Authority |
Department of Business Innovation |
Department of Education and Early Childhood Development |
Department of Health |
Department of Human Services |
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 (this report) |
This Part sets out the status and financial implications of a range of significant projects and developments underway during 2010–11.
Financial indicators, when monitored over time, enable trends and potential risks to be identified and managed. We have adopted four key financial indicators to interpret the state's results and measure performance. They are the state's net result, net result from transactions, the infrastructure renewal ratio and the debt sustainability ratio.
The Annual Financial Report of the State of Victoria (AFR) is audited in compliance with the law and the Australian Auditing Standards, and Interpretations. This Part reports on the results of the audit.
A clear audit opinion was issued on the AFR on 10 October 2011 and was tabled in Parliament on 13 October 2011.
The clear audit opinion means that the public and government can be reasonably assured that the state's financial reporting is reliable and accurate.
The Financial Management Act 1994 (FMA) governs the financial administration, accountability and reporting of the Victorian public sector. It requires the annual preparation of a consolidated financial report of the state, known as the Annual Financial Report of the State of Victoria (AFR).