Financial Audit Update Thursday 3 March 2011 and Thursday 10 March 2011 The Auditorium, 111 George St, Brisbane This is trial version www.adultpdf.com Program • Welcome by the Auditor-General / Deputy Auditor-General – Glenn Poole (3 rd March) / Val Manera (10 th March) • Governance of IT – Mayus Nath • Importance of External Audit to a Board / Audit Committee – Julie-Anne Schafer • Accounting for Grants and Other Assistance – Alison Rayner, Queensland Treasury • Impact of natural disasters – Paul Christensen • Accounting Standards and Financial Reporting Update – Patrick Flemming This is trial version www.adultpdf.com Welcome Glenn Poole, Auditor-General / Val Manera, Deputy Auditor-General This is trial version www.adultpdf.com 2010 Achievements • Successful completion of audit program. • Continuing staff development. • Recommendations from Strategic Review. • New head office location. • 150 years of service. This is trial version www.adultpdf.com Statements by Chief Finance Officers • Majority complied with prescribed requirements. • Compliance-focused. • Opportunity to improve accountability. • Little voluntary information provided on internal control and assurance frameworks. • Better practice noted from some agencies. This is trial version www.adultpdf.com Challenges for 2011 • Changing client profile. • Enhanced audit standards and audit quality. • Performance management systems audits. • Changes to audit mandate. • Impact of natural disasters. This is trial version www.adultpdf.com Mayus Nath Director – Information Systems Governance of IT This is trial version www.adultpdf.com Introduction • Why is the governance of IT important? • What do the standards say? • What are we finding in our audits? • Conclusion This is trial version www.adultpdf.com Why is the governance of IT important? Report items in A-G Reports to Parliament • Report No. 7 for 2010 - Information systems governance and control including the Queensland Health Implementation of Continuity Project • Report No. 4 for 2009 - Results of Audits at 31 May 2009 – One School Project • Report No. 4 for 2008 - Results of Audits at 21 May 2008 – ICT projects at Department of Communities, Queensland Police Service and TransLink This is trial version www.adultpdf.com Why is the governance of IT important? Report Items in A-G Reports to Parliament • Report No. 7 of 2006 Results of Audits Completed at 30 September 2006 – Pilot implementation of SSS • Report No. 1 of 2006 Results of Local Government Audits 2004-05 – Governance of ICT projects • Report No. 4 of 2005 Results of Audits Completed at 31 October 2005 – BCC Payroll This is trial version www.adultpdf.com . Financial Audit Update Thursday 3 March 2011 and Thursday 10 March 2011 The Auditorium, 111 George St, Brisbane This is trial version www.adultpdf.com Program • Welcome by the Auditor-General. Auditor-General / Deputy Auditor-General – Glenn Poole (3 rd March) / Val Manera (10 th March) • Governance of IT – Mayus Nath • Importance of External Audit to a Board / Audit Committee – Julie-Anne. Accounting for Grants and Other Assistance – Alison Rayner, Queensland Treasury • Impact of natural disasters – Paul Christensen • Accounting Standards and Financial Reporting Update – Patrick Flemming This