State finances 2020

Tabled Report 15: 2020–21

Tabled date

2021-03-18

Report year

2020-21

State finances Whole of government

Entities audited

Not identified in the published HTML audit scope.

Recommendations

1. QAO's text Addressed to: Introduce a statutory time frame for the consolidated whole-of-government financial statements (Treasurer and Queensland Treasury)

   We recommend that the Financial Accountability Act 2009 be amended to include a statutory time frame for the certification and tabling in parliament of the consolidated Queensland Government financial statements each year.

   We also recommend that in an election year, the financial statements are certified prior to 31 October to allow for tabling prior to the state election.

2. QAO's text Addressed to: We recommend that the Queensland Future Fund Act 2020 (QFF Act) be amended to include a requirement for financial statements to be prepared, audited, and made publicly available for each fund created under the QFF Act. These requirements could be based on those included in section 7 of the NSW Generations Funds Act 2018. These financial statements

   We recommend that the Queensland Future Fund Act 2020 (QFF Act) be amended to include a requirement for financial statements to be prepared, audited, and made publicly available for each fund created under the QFF Act. These requirements could be based on those included in section 7 of the NSW Generations Funds Act 2018. These financial statements should include information on the underlying investments that support each fund.

Authoritative report — Queensland Audit Office

Report PDF on QAO