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Education 2021 / New South Wales. Audit Office.

Catalogue Information
Field name Details
Record Number 21271
Corporate Author New South Wales. Audit Office.
Title Education 2021 / New South Wales. Audit Office. [ElectronicResource]
Portion of title Education 2021 : financial audit : New South Wales Auditor-General's report.
Published Sydney : Audit Office, 2021.
Collation 25 pages [PDF]
Summary Note "What the key issues were. The Department and the TAFE Commission revalued their land assets this year, recognising collection increases of $863.8 million. The Department and the TAFE Commission are not scheduled to perform comprehensive revaluations of their buildings until 2022–23. Construction costs, which are a key input in their current replacement cost valuation methodologies for buildings, may have increased by an estimated nine per cent since the last comprehensive revaluation in 2017–18 based on broad based indices used by the Department and the TAFE Commission. While the estimated index increase indicates the fair value of buildings may exceed the carrying values, the use of such high-level indicators has a degree of estimation uncertainty due to the specialised nature of the assets. Therefore, both agencies did not adjust the values of their buildings. The number of issues we reported to management decreased. Fifty per cent of issues were repeated from prior years. Of the 11 newly identified moderate rated issues, seven related to internal control deficiencies, with six identified in procurement and payroll controls." - page [5].
Subject Education-- New South Wales
Finance, Public-- New South Wales -- Auditing
Internet Site https://www.audit.nsw.gov.au/our-work/reports/education-2021
Catalogue Information 21271 Beginning of record . Catalogue Information 21271 Top of page .

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