2010-11 Financial Statements Process

The Department has a robust quality assurance framework to ensure that the annual financial statements are prepared in accordance with Finance Minister’s Orders and Australian Accounting Standards and provide a true and fair view of the Department’s financial performance.

The Audit Committee has a key role within this framework; they provide independent advice to the Secretary on the preparation and the review of the financial statements. In 2010-11, to assist the Audit Committee with this responsibility, the Department continued the Financial Statements Sub-Committee. The Audit Committee endorsed the annual financial statements and the annual Certificate of Compliance prior to signing by the Secretary and Chief Financial Officer.

The department’s financial statements were audited by the Australian National Audit Office (ANAO). An unqualified audit opinion was issued by the Auditor-General on the 23 August 2011. The ANAO also confirmed the Department’s financial statement preparation process was well organised and executed.

Figure 5.0.1: Annual financial statements signing on 23 August 2011

Back Row: Vinod Mahajan, Acting Chief Financial Officer TGA; Colin Cronin, Assistant Secretary Audit and Fraud Control; Rahul Tejani, ANAO;
Jo Stone, Office of the Chief Financial Officer.
Front Row: Rohan Hammett, National Manager TGA; Jane Halton PSM, Secretary; Ian McPhee PSM, Auditor-General, ANAO; John Barbeler, Chief Financial Officer.

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