Additionally, audit teams will provide written reports and letters to the key stakeholders within the entities as the audit progresses. Throughout the audit the ANAO undertakes regular meetings and liaison with the entity to deal promptly with any issues that may emerge. Sources of risk include changes in the entity’s functions or objectives, complexity, financial market volatility, global uncertainty, or changes in legislation or the financial reporting framework.Įffective two-way communication between the ANAO and the entity is a key element of a successful audit. Risks may arise due to the nature of, or changes in, the entity’s business environment and business and accounting processes, including information technology. The ANAO directs audit effort to areas most expected to contain risks of material misstatement, whether due to fraud or error, with correspondingly less effort directed at other areas. The ANAO audits the financial statements of approximately 250 entities. They provide independent assurance that financial statements have been prepared in accordance with the Government’s financial reporting framework and Australian accounting standards. The ANAO’s financial statements audits, undertaken in accordance with the ANAO Auditing Standards, provide an independent examination of the financial accounting and reporting of public sector entities. The preparation of timely and accurate audited financial statements is also an important indicator of the effectiveness of an entity’s financial management, which fosters confidence in an entity on the part of users. ![]() In the public sector, the users of financial statements include Ministers, Parliament and the community. The primary purpose of financial statements is to provide relevant and reliable information to users about a reporting entity’s financial performance and position. Following the tabling of an audit report, the JCPAA or another committee of the Parliament may conduct inquiries using Auditor-General reports as key information sources. Senate Standing Order 166 allows for Auditor-General reports to be authorised for publication by the President of the Senate, or nominated alternative. Auditor-General reports are presented for tabling to both Houses of Parliament, and can be authorised for publication even if a House of the Parliament is not sitting. However, to the extent appropriate, the ANAO provides information on request in the spirit of the FOI Act, particularly in relation to the administration of the ANAO, and complies with the spirit and intent of the IPPs.Īuditor-General reports and the annual Defence Major Projects Review are tabled in the Parliament and on the same day that reports are tabled, or authorised for publication, they are published on the ANAO website. The Auditor-General is exempt from the application of the Freedom of Information Act 1982 (FOI Act) and Information Privacy Principles (IPPs) set out at section 14 of the Privacy Act 1988. Information obtained during an audit or review is stored securely at all times and used only for audit purposes. The ANAO retains the security classification assigned to information by the source entity. ANAO officials and contractors comply with the relevant requirements of the PSPF as implemented by entity being audited, subject to the independence of the Auditor-General or the conduct of the audit not being compromised. In exercising this discretion, the Auditor-General considers the reasons listed in section 37 of the Auditor-General Act, which include national security and international relations, Cabinet deliberations, Commonwealth-State relations and unfair prejudice to commercial interests.Ĭonsistent with the Protective Security Policy Framework ( PSPF), all ANAO staff and contractors hold security clearances appropriate for the work they are performing and classification of the information they are accessing. Sensitive information that, in the Auditor-General’s opinion, is not in the public interest will not be included in public reports. The ANAO treats all audit-related information as ‘in-confidence’. ![]() A person provided with a proposed audit report or any other report must not disclose any information from that report, unless the Auditor-General has consented to the disclosure. A person conducting an audit must not disclose any information except in the course of undertaking the Auditor-General’s functions. These powers are balanced by confidentiality provisions in the Auditor-General Act 1997. ![]() To assist in fulfilling these audit functions, the Auditor-General has wide access and information-gathering powers. ![]() The Auditor-General’s main functions include financial statements audits, performance audits, performance statements audits and assurance reviews.
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