❓ A parliamentary question regarding the late submission of financial statements by the Fire and Emergency Services Superannuation Board, attributed to delays in receiving investment tax statements. Actions are being taken to improve timeliness.
AnsweredQoN 3495Legislative 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 Fire and Emergency Services Superannuation Board, 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
22 March 2011
Responded by
Minister for Energy representing the Minister for Emergency Services
Response time
28 days
(1) The Fire and Emergency Services Superannuation Fund's (the Fund's) financial statements were provided to the OAG on 13 August 2010. This was the agreed date with Deloitte's (OAG outsource the audit to Deloitte) due to the Fund's numerous taxable investments. The delay is a result of many of the Fund's investment tax statements not being received until early August.
(2) The Fund's investment managers have been advised to provide their 30 June tax statements in a timely manner so the Fund may submit the financial statements earlier.
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(2) The Fund's investment managers have been advised to provide their 30 June tax statements in a timely manner so the Fund may submit the financial statements earlier.
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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