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Committee's report

The committee tabled its Report No. 48, 56^th Parliament - Consideration of Auditor-General Report 6: 2019-20—Energy: 2018-19 results of financial audits on 30 March 2020.

Overview

Role of the Auditor-General

The role of the Auditor-General is to provide Parliament with independent assurance of public sector accountability and performance. This is achieved through reporting to Parliament on the results of its financial and performance audits.

About the Auditor-General Report

View:    Auditor-General Report 6: 2019-20—Energy: 2018-19 results of financial audits

The purpose of this report is to deliver the results of the Auditor-General’s financial audits of the Queensland Government’s energy entities: CleanCo Queensland Limited, CS Energy Limited, Energy Queensland Limited (including the results of Ergon Energy Queensland), Queensland Electricity Transmission Corporation (trading as Powerlink Queensland), and Stanwell Corporation Limited. The Queensland Audit Office assessed the financial reports of the energy entities and evaluated the timeliness and quality of their financial reporting. It also provides conclusions on their areas of audit focus, which were:

• Assessing the value of assets
• Assessing the cost of site restoration and onerous contract provisions
• Assessing the value of financial instruments
• Implementing new accounting standards.

The report made twelve recommendations to strengthen internal controls, and identified no significant deficiencies in internal controls. The report recommended two action points for each entity to consider:

• Resolve accounting issues early
• Secure information systems.

Referral to Committee 

Standing Order 194B provides that the Committee of the Legislative Assembly shall as soon as practicable after a report of the Auditor-General is tabled in the Assembly refer that report to the relevant portfolio committee(s) for consideration. 

The committee is responsible under section 94 of the Parliament of Queensland Act 2001 for assessing the integrity, economy, efficiency and effectiveness of government financial management by examining government financial documents and considering reports of the Auditor-General.

The Committee of the Legislative Assembly referred this Auditor-General’s report to the committee on 28 November 2019.

Timeline