Tag: financial reporting

NSW councils need to improve the quality of their financial reporting, an Auditor General’s report says.

Councils need to address their myriad challenges using a multi-pronged approach, with the first being financial reporting, write Cameron Roan and Ben Smith.

Auditor flags the ‘voluminous disclosure requirements’ for small public entities, and points to identified weaknesses not being addressed. 

Australia’s efforts to improve government fiscal reporting have been highlighted in an OECD report, which recommends greater use of summaries and analyses.

More than half of NSW’s councils are struggling to renew and maintain their infrastructure, according to the state’s auditor who says financial reporting in local government needs to improve.