❓ Hon Ljiljanna Ravlich asks the Minister for Agriculture and Food why the Western Australian Meat Industry Authority's financial statements were not prepared in a timely manner, as highlighted in the Auditor General's report. The Minister responds that a resignation and subsequent business changes caused the delay.
AnsweredQoN 3493Legislative Council
QuestionView source ↗
I refer to the WA Auditor General Audit Results Report Annual 2009-10 Assurance Audits Report 10 November 2010 in section five, ‘Quality and Timeliness of Financial Reporting’, on page 31 where it refers to concern that many Agencies with non-complex financial reporting obligations had not prepared their financial statements in a timely manner. An Agency under the Minister’s portfolio listed as being received later than the date agreed with Audit in appendix one, Summary of Audit Opinions is the Western Australian Meat Industry Authority, and I ask -
(1) What is the reason for the financial statements not being prepared in a timely manner?
(2) What action is being taken to rectify current practices, in order that satisfactory processes are put in place to ensure financial statements are received by the date agreed?
(1) What is the reason for the financial statements not being prepared in a timely manner?
(2) What action is being taken to rectify current practices, in order that satisfactory processes are put in place to ensure financial statements are received by the date agreed?
AnswerView source ↗
Answered
5 April 2011
Responded by
Minister for Child Protection representing the Minister for Agriculture and Food
Response time
42 days
(1) The Western Australian Meat Industry Authority had the Chief Finance Officer resign close to the date agreed.
· The new employee required time to establish an understanding of the business and the contract Auditor required further time to review numerous changes to prior year figures.
(2) The financial statements are now based on a new set of business reports.
These reports are used to provide a monthly Profit and Loss Statement, Balance Sheet and Cash-flow Statement to the board.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
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· The new employee required time to establish an understanding of the business and the contract Auditor required further time to review numerous changes to prior year figures.
(2) The financial statements are now based on a new set of business reports.
These reports are used to provide a monthly Profit and Loss Statement, Balance Sheet and Cash-flow Statement to the board.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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