| Description |
xi, 24 pages, PA50 pages ; 25 cm |
|
regular print |
| Series |
Report ; 376 |
|
Australia. Parliament. Joint Committee of Public Accounts and Audit.
Report ; 376
|
| Contents |
1. Introduction -- Structure of the report -- 2. Audit Report No. 2 Use of financial information in management reports -- Information needs of organisations -- Financial information in public sector agencies -- ANAO findings -- Issues discussed at the public hearing -- Financial information - the way ahead -- Performance agreements -- Better practice guides -- Planning -- Parliamentary scrutiny -- Support from DoFA -- Chief financial officers -- 3. Audit Report No. 10 Control structures as part of the audits of financial statement of major commonwealth agencies for the period ended 30 June 1999 -- Effective control structures -- Control structures in public sector agencies -- Information technology -- Asset management -- Accounting systems and controls -- Financial management information systems -- Management reporting and financial monitoring -- Control structures - the way ahead -- Better practice guides -- Performance agreements -- Chief financial officers -- Financial Management Information Systems -- Information technology -- Effective communication of changes.agencies and |
| Summary |
This report is the review by the Joint Committee of Public Accounts and Audit (JCPAA) of the Auditor-General's reports tabled in the first quarter of 1999-2000. From these, the Committee selected two reports for further examination. The Committee reviewed Audit Report No. 2, into the use of financial information in management reports, and Audit Report No. 10, into control structures of major Commonwealth agencies. Both reports outline some serious shortcomings of agencies with respect to the reliable and timely collection and use of financial information. As the Auditor-General has observed, the key components of effective financial management include the following: (a) access to relevant information; (b) use of that information to enhance corporate governance; and (c) assurance that the information is accurate, user friendly and well protected. The audit report on the use of financial information in management reports found substantial scope for improvement. The Committee's review focuses on the issues of the costing of outputs, the need for cultural change within agencies and the time frame for implementation. The report makes two recommendations in this area. each of which is designed to confer a greater degree of responsibility on managers, particularly those at senior levels. The Committee takes the view that the most effective way to ensure the success of the new framework is to clearly define the responsibilities of managers, provide the necessary support, and then hold those managers accountable for implementation. Once accountability mechanisms are established, managers will have a strong incentive to implement the new framework successfully. The audit report on control structures found that an important pre-condition for the effective use of financial information is reliable and timely information. The audit report found there was considerable scope for improvements in this area. It was brought to the Committee's attention that control structures were lacking in the areas of information technology, asset management, accounting systems, and financial management information systems. The report makes a recommendation, regarding information technology systems, which is designed to prevent unauthorised access to certain information. The Committee believes it is necessary for management in each agency to demonstrate its commitment to establishing effective control structures. However, before this can be undertaken. I urge agency heads to have a fully operational financial system in place as soon as possible. This will in turn, provide management with relevant and accurate information in a timely manner |
| Notes |
"May 2000" |
| Bibliography |
Includes bibliographical references |
| Notes |
Also available on the Internet at: http://www.aph.gov.au/house/committee/jpaa/AGFirst99_00/contents.htm |
|
Also published as Parliamentary paper (Australia. Parliament) ; 2000, no. 116 |
|
Commonwealth of Australia 2000 |
| Subject |
Administrative agencies -- Australia -- Finance -- Management.
|
|
Finance, Public -- Australia -- Management.
|
| Author |
Charles, Bob (Robert Edwin)
|
| ISBN |
0642436878 |
|
