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Report - Parliament of Victoria, Australia

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Report - Parliament of Victoria, Australia

PUBLIC ACCOUNTS

    AND ESTIMATES COMMITTEE

    SEVENTY-FOURTH REPORT TO THE PARLIAMENT

REPORT ON THE APPOINTMENT OF A PERSON TO

    CONDUCT THE FINANCIAL AUDIT OF THE

    VICTORIAN AUDITOR-GENERAL’S OFFICE

    JUNE 2007

    Ordered to be

    printed

    By Authority

    Government Printer for the State of Victoria

No. 21 Session 2006-07

    Report on the Appointment of a person to conduct the financial audit of the VAGO

    PUBLIC ACCOUNTS AND ESTIMATES COMMITTEE

Address: Parliament of Victoria

     Spring Street

     East Melbourne Victoria 3002

Telephone: (03) 9651 3556

    Facsimile: (03) 9651 3552

    Email: paec@parliament.vic.gov.au

    Internet: www.parliament.vic.gov.au/paec

    Parliament of Victoria

    Public Accounts and Estimates Committee

    Report on the Appointment of a person to conduct the

    financial audit of the Victorian Auditor-General’s Office

    ISBN 0 9758189 5 3

    CONTENTS

    PUBLIC ACCOUNTS AND ESTIMATES COMMITTEE MEMBERSHIP TH 56 PARLIAMENT.....................................................................................................1 DUTIES OF THE COMMITTEE .....................................................................................3 CHAPTER 1: INTRODUCTION .............................................................................5 1.1 Legislative requirements .................................................................................5 1.2 Selection process ............................................................................................5 CHAPTER 2: FINANCIAL AUDIT .........................................................................7 2.1 Background .....................................................................................................7 2.2 Previous arrangements ...................................................................................7 2.3 Financial Auditor’s role....................................................................................7 2.4 Selection criteria ..............................................................................................8 2.5 Recommended appointment ..........................................................................8 2.6 Recommendation ............................................................................................8 APPENDIX 1: EXTRACT FROM THE

    AUDIT ACT 1994, AS AMENDED ...........9

    APPENDIX 2: APPOINTMENT AND REMUNERATION OF AN AUDITOR

    PURSUANT TO SECTION 17 OF THE AUDIT ACT 1994,

    AS AMENDED, AS RECOMMENDED BY THE PUBLIC

    ACCOUNTS AND ESTIMATES COMMITTEE ............................11

    APPENDIX 3: ORGANISATIONS SUBMITTING PROPOSALS FOR

    FINANCIAL AUDIT .......................................................................15

    i

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    PUBLIC ACCOUNTS AND ESTIMATES COMMITTEE

    THMEMBERSHIP 56 PARLIAMENT

    Bob Stensholt, MP (Chair)

    Kim Wells, MP (Deputy Chair)

    Greg Barber, MLC

    Richard Dalla-Riva, MLC

    Judith Graley, MP

    Janice Munt, MP

    Martin Pakula, MLC

    Gordon Rich-Phillips, MLC

    Robin Scott, MP

    Bill Sykes, MP This inquiry was undertaken by a Sub-Committee consisting of the following

    members:

    Bob Stensholt, MP (Chair)

    Kim Wells, MP (Deputy Chair)

    Richard Dalla-Riva, MLC

    Janice Munt, MP For this inquiry, the Committee was supported by a secretariat comprising:

    Manager, Joint Committee Administration Office: Mark Roberts

    Director, Organisation Development and Finance

    Department of Parliamentary Services: Peter Lochert

    Office Manager: Karen Taylor

    1

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    DUTIES OF THE COMMITTEE

    The Public Accounts and Estimates Committee is a joint parliamentary committee constituted under

    the Parliamentary Committees Act 2003. The Committee comprises ten Members of Parliament drawn from both Houses of Parliament.

    The Committee carries out investigations and reports to Parliament on matters associated with the

    financial management of the state. Its functions under the Act are to inquire into, consider and report

    to the Parliament on:

    ? any proposal, matter or thing concerned with public administration or public sector finances;

    and

    ? the annual estimates or receipts and payments and other Budget Papers and any

    supplementary estimates of receipts or payments presented to the Assembly and the Council.

    The Committee also has a number of statutory responsibilities in relation to the Office of the

    Auditor-General. The Committee is required to:

    ? recommend the appointment of the Auditor-General and the independent performance and

    financial auditors to review the Victorian Auditor-General’s Office;

    ? consider the budget estimates for the Victorian Auditor-General’s Office;

    ? review the Auditor-General’s draft annual plan and, if necessary, provide comments on the

    plan to the Auditor-General prior to its finalisation and tabling in Parliament;

    ? have a consultative role in determining the objectives and scope of performance audits by

    the Auditor-General and identifying any other particular issues that need to be addressed;

    ? have a consultative role in determining performance audit priorities; and

    ? exempt, if ever deemed necessary, the Auditor-General from legislative requirements

    applicable to Government agencies on staff employment conditions and financial reporting

    practices.

    3

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CHAPTER 1: INTRODUCTION

    1.1 Legislative requirements

    Pursuant to section 17 of the Audit Act 1994, as amended, the Public Accounts and Estimates Committee is required to recommend to the Parliament the appointment of an independent person to

    conduct:

    ? an annual financial audit of the Victorian Auditor-General’s Office. The relevant sections of the Audit Act 1994, as amended, are attached as Appendix 1.

    1.2 Selection process

    On 27 April 2007, the Committee sought submissions by tender by advertising in The Australian

    Financial Review and, on 28 April 2007, in The Age and The Australian newspapers. The Committee also wrote to various major accounting and consulting firms, inviting tenders.

    On 16 April 2007, the Committee appointed the following Members to a Sub-Committee to review

    the tender proposals:

    Bob Stensholt, MP (Chair)

    Kim Wells, MP (Deputy Chair)

    Richard Dalla-Riva, MLC

    Janice Munt, MP

    The Committee received two tenders for the financial audit.

    Mr Peter Lochert, Director, Organisation Development and Finance, Department of Parliamentary

    Services and Mr Mark Roberts, Manager, Joint Committee Administration Office assisted the Chair

    with the analysis of the tenders received. This analysis was then evaluated by Members of the

    Sub-Committee.

    5

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