❓ A parliamentary question regarding the Forest Products Commission's late financial statement submission, citing concerns raised in the Auditor General's report. The Minister's response attributes the delay to complex financial reporting issues and asserts current processes are satisfactory but subject to ongoing review.
AnsweredQoN 3494Legislative 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 Forest Products Commission, 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 Forestry
Response time
42 days
(1) FPC's financial statements of 2009-2010 included unusually complex financial reporting for the period, including discontinued activities, impairment of the immature estate and onerous contract considerations.
(2) Current reporting processes are considered satisfactory however they are subject to constant improvement and review.
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(2) Current reporting processes are considered satisfactory however they are subject to constant improvement and review.
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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