The Terms of Reference for the Committee Inquiry are to examine:
· whether New South Wales’ government agencies are aware of the
Auditor-General’s report, and
· how agencies responded to the recommendations in that report.
The compliance review is contained in the Auditor-General’s Report to
Parliament for 2002, volume 3 (pp3-6). The key findings of the compliance
1. Audit committees, while operating in the vast majority of NSW government
sector agencies, are not present in some of the larger agencies.
2. Audit committees would be improved if:
· in government departments, at least one member of the committee is an
· neither the CEO nor the chair of the board is the chair of the audit committee
· they undertook a formal annual assessment of the performance of the internal
· in government departments, they oversee the preparation of the agency’s
annual financial report and assist the CEO during the audit process
· agencies report to external parties what the committee does and what
expertise the members have and how well they attend meetings
· their performance is periodically reviewed.
The Report recommended:
1. All large NSW Government agencies should have audit committees.
2. Audit committees, particularly those operating in government departments,
should consider their own activities and amend them where appropriate to accord
with best practice, especially in the matters mentioned earlier.
The full Report may be found at:
The Committee will conduct the Inquiry by undertaking a survey of significant
agencies. The survey questionnaire is included below.
The Committee welcomes submissions addressing the Terms of Reference. These
should be forwarded by 27 August 2004 to:
Public Accounts Committee
SYDNEY NSW 2000
If you have any queries regarding the Inquiry, please contact: Jackie Ohlin,
Project Officer, Phone (02) 9230 2354