About this report or communique
Report of the Auditor-General No. 5 of 2021-22: Auditor-General’s Report on the Financial Statements of State Entities, Volume 2, Audit of State entities and audited subsidiaries of State entities 31 December 2020 and 30 June 2021
The Auditor-General has the mandate under sections 16, 18 and 21 of the Audit Act 2008 (Audit Act) to carry out the audit of the financial statements of the Treasurer, all State entities and audited subsidiaries of State entities. The aim of a financial audit is to enhance the degree of confidence in the financial statements by expressing an opinion on whether they present fairly*, in all material respects, the financial performance and position of State entities and were prepared in accordance with the relevant financial reporting framework.
This report fulfils the Auditor-General’s obligation to, on or before 31 December in each year, report to Parliament in writing on the audit of State entities and audited subsidiaries of State entities in respect of the preceding financial year. Audits undertaken by arrangement under section 28 of the Audit Act are not included in this report.
This report is the second volume of two volumes summarising the outcomes of financial statements of State entities and audited subsidiaries of State entities for the years ended 31 December 2020 and 30 June 2021. This report provides commentary on:
- the timeliness of financial reporting by State entities and audited subsidiaries of State entities
- the completion of audits of financial statements and audit opinions issued
- audits dispensed with
- audit findings
- prior period errors
- audit fees for financial statement audits
- financial analysis of the local government sector
- the audit of all firearms or ammunition disposed of under the Firearms Act 1996.
* Give a true and fair view in the case of entities reporting under the Corporations Act 2001.