Timely Payments Performance

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In 2021 the Victorian government amended the Fair Payments Policy. Agencies under the amended Policy must pay invoices for contracts under $3 million within 10 business days. We conducted this review to see if agencies were paying on time, and if publicly reported information about payment timeliness was accurate and transparent.

Appendix C: Review scope and method

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Appendix B: Abbreviations, acronyms and glossary

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Appendix A: Submissions and comments

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2. Our recommendations

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We made one recommendation to address our findings. All audited agencies have accepted the recommendation.

1. Our findings

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What we examined

For this review we had a single line of inquiry:

1. Do agencies meet the requirements of the Data Quality Information Management Framework standard (Data Quality Standard)?

To answer this question, we examined:

Results of 2024 Audits: TAFEs and Universities

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In this report we summarise the outcomes of our audits of the TAFE sector’s financial reports and performance statements and the Victorian public university sector’s financial reports for the year ended 31 December 2024.