Financial Audit Update Thursday 3 March 2011 and Thursday 10 March 2011_part1 ppt

Financial Audit Update
Thursday 3 March 2011 and
Thursday 10 March 2011
The Auditorium, 111 George St, Brisbane
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Program
• Welcome by the Auditor-General / Deputy Auditor-General
– Glenn Poole (3
rd
March) / Val Manera (10
th
March)
• Governance of IT
– Mayus Nath
• Importance of External Audit to a Board / Audit Committee
– Julie-Anne Schafer
• Accounting for Grants and Other Assistance
– Alison Rayner, Queensland Treasury
• Impact of natural disasters
– Paul Christensen
• Accounting Standards and Financial Reporting Update
– Patrick Flemming
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Welcome
Glenn Poole, Auditor-General /
Val Manera, Deputy Auditor-General
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2010 Achievements

• Successful completion of audit program.
• Continuing staff development.
• Recommendations from Strategic Review.
• New head office location.
• 150 years of service.
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Statements by Chief Finance Officers
• Majority complied with prescribed
requirements.
• Compliance-focused.
• Opportunity to improve accountability.
• Little voluntary information provided on
internal control and assurance frameworks.
• Better practice noted from some agencies.
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Challenges for 2011
• Changing client profile.
• Enhanced audit standards and audit quality.
• Performance management systems audits.
• Changes to audit mandate.
• Impact of natural disasters.
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Mayus Nath
Director – Information Systems
Governance of IT
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Introduction
• Why is the governance of IT important?
• What do the standards say?
• What are we finding in our audits?
• Conclusion
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Why is the governance of IT important?
Report items in A-G Reports to Parliament
• Report No. 7 for 2010 - Information systems governance
and control including the Queensland Health
Implementation of Continuity Project
• Report No. 4 for 2009 - Results of Audits at 31 May 2009
– One School Project
• Report No. 4 for 2008 - Results of Audits at 21 May 2008
– ICT projects at Department of Communities, Queensland
Police Service and TransLink
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Why is the governance of IT important?
Report Items in A-G Reports to Parliament
• Report No. 7 of 2006 Results of Audits Completed at 30
September 2006
– Pilot implementation of SSS
• Report No. 1 of 2006 Results of Local Government
Audits 2004-05
– Governance of ICT projects
• Report No. 4 of 2005 Results of Audits Completed at 31
October 2005
– BCC Payroll

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