Our recommendations
We made 4 recommendations to the Department of Treasury and Finance.
Appendix G: Acronyms, abbreviations and glossary
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Appendix F: Financial measures and targets
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Appendix E: VicTrack lease arrangements
Download a PDF copy of Appendix E: VicTrack lease arrangements.
Appendix D: Results of material entity audits
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Appendix C: Audit opinion on the AFR
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Appendix B: About this report, the AFR and our financial audits
Download a PDF copy of Appendix B: About this report, the AFR and our financial audits.
Appendix A: Submissions and comments
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4. COVID-19 business grant support programs
Conclusion
In 2020 the former Department of Jobs, Precincts and Regions (the department) had to respond rapidly to implement a large scale grants program to support businesses during the COVID 19 pandemic. This grants program was unprecedented in its experience.
3. Accounts and records
Conclusion
DTF implemented effective internal controls to support the preparation of a complete and accurate AFR.
VicTrack has made significant progress in improving its internal control framework that relates to asset accounting.
The internal control frameworks of the other material entities were adequate to support preparation of complete and accurate financial reports. However, some entities need to strengthen some internal controls to ensure their financial reports remain reliable.