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Home News WA Auditor-General slams financial errors by agencies
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TAGS Finance, Western Australia, Colin Murphy, financial management
The WA Auditor-General says errors worth $350 million are “disappointing”, calling for looser reporting standards for small agencies in a damning report.
Western Australian Auditor-General Colin Murphy has slammed the number of errors in agency financial statements in a report released Wednesday, identifying $351 million worth of mistakes.
Net government assets were overstated by $132 million and the surplus by net $69 million. Because agencies failed to note these errors during the year, corrections were only made after the end of the financial year. Murphy stated:
“Unfortunately, because agencies did not identify these during the year, it was not until well after year-end that these errors were recognised and corrected and a more accurate understanding of the State’s financial result could be obtained.”
There were 474 financial and management control weaknesses reported in 2013-14, including an increase in the number considered “significant” to 78.
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The Mandarin is where Australia's public sector leaders discuss their work and the issues faced within modern bureaucracy. Join today to discover the latest in public administration thinking and news from our dedicated reporters, current and former agency heads and senior executives.
David Donaldson is a journalist at The Mandarin based in Melbourne. He's previously written for The Guardian and Crikey and holds a masters in international relations.
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