Interim financial statement audit — period ended 30 June 2007
Our interim phase of the audit of financial statements of General Government Sector (GGS) agencies for the year ending 30 June 2007 was tabled in June 2007.18 This report presented the results of the interim phase of the 2006–07 financial statement audits. The audits encompassed a review of governance arrangements related to agencies’ financial management responsibilities, and an examination of internal control, including information technology system controls for all portfolio departments and other GGS agencies’ that represent 95 per cent of total GGS revenues and expenses. The reviews are designed to assess the reliance that can be placed on internal controls to prepare complete and accurate information for financial reporting purposes.
18 Audit Report No. 51 2006–07, Interim Phase of the Audit of Financial Statements of General Government Sector Agencies for the Year Ending 30 June 2007.