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The report summarises audit findings relating to entity internal control structures arising out of the interim financial statement audits of 21 Major Commonwealth entities for the year ending 30 June 2003. The interim audit examinations seek to update the ANAO's assessment of the internal control environment of entities reviewed, so as to determine whether reliance can be placed on those control structures to produce complete, accurate and valid information for financial reporting purposes. In addition this year's report provides observations on some key strategic issues and influences which are, or will be in the future, likely to affect the overall financial framework in the public sector
The objective of the audit was to determine whether DEST has effective governance practices for its IT and e- Business; has adequate systems in place to measure the efficiency and effectiveness of its IT and e-Business; implements and maintains appropriate quality standards within its IT and e-Business systems; and implements proper controls, including risk management, to achieve maximum benefits from its IT and e- Business. The audit examined education and training services provided, or managed, by DEST via IT or the Internet.
This report summarises the final results of the audits of the financial statements of Commonwealth entities and represents the second report of the year on financial statement audits for the period ended 30 June 2002. It complements Audit Report No.67 2001-2002 Control Structures as part of the Audit of Financial Statements of Major Commonwealth Entities for the Year Ending 30 June 2002. The report is in five parts:
Part One provides ongoing commentary on the structure of and issues in relation to the Commonwealth's financial framework;
Part Two provides details of the audit of the Commonwealth's Consolidated Financial Statements for 2001-2002;
Part Three summarises the final results of the financial statements with particular details regarding qualifications and any other matters emphasised in the audit reports;
Part Four provides an overview of the results of the year end substantiation of financial balances and a summary of continuing significant accounting issues; and
Part Five provides the detailed results of the individual financial statement audits and any additional significant control matters identified since Audit Report No..67 2001-2002.