Major projects 2024

Tabled Report 9: 2024–25

Tabled date

2025-01-20

Report year

2024-25

Infrastructure Local government Transport Whole of government

Entities audited

Not identified in the published HTML audit scope.

Recommendations

1. QAO's text Addressed to: agencies involved with future asset transfers

   We recommend that agencies involved with future asset transfers implement appropriate governance arrangements to ensure that:

   • there is early collaboration between the respective operational, legal, and financial teams, and if necessary, relevant central agencies and key stakeholders
   • all delivery milestones are accurately recorded, and the operational handover date of the assets is agreed
   • the accounting entries in their financial statements are understood and appropriately reflect the transfer and/or use of the assets
   • where required, approval for the equity designation is obtained at or before the transfer of assets, aligning both the accounting and operational aspects of the transfer.

2. QAO's text Addressed to: Queensland Treasury

   We recommend that Queensland Treasury considers whether additional guidance can be provided to better assist agencies in understanding their responsibilities for asset transfers and the issues they may need to consider in discharging their responsibilities.

Authoritative report — Queensland Audit Office

Report PDF on QAO