❓ Mr. Zempilas questions the Treasurer regarding Landgate's compliance with accounting standards as recommended by the Auditor General. The Treasurer's response indicates existing support for agencies in applying accounting standards and notes the lack of audit qualifications related to the specific standard.
AnsweredQoN 1613Legislative Assembly
QuestionView source ↗
The Office of the Auditor General's (OAG) Report on Financial Audit Results – State Government 2025 released on 3 December 2025 recommends that Landgate valuations should comply with accounting standards so they are useful and cost effective for financial reporting purposes, by including professional and project management fees as part of their valuations. To do this, the Department of Treasury and Finance may need to work with Landgate. Can the Treasurer please advise: (a) Whether the Department of Treasury and Finance will work with Landgate with respect to this accounting standard; (b) If so, how and when will it be implemented; (c) If not, why not, and is the OAG incorrect in making this recommendation; (d) Why did the Department of Treasury and Finance not identify the need for Landgate to comply with this accounting standard prior to it being raised by the OAG; (e) What have been the material consequences of not complying with this accounting standard; and (f) What are likely to be the material consequences of complying with this accounting standard?
AnswerView source ↗
Answered
17 February 2026
Response time
1 days
(a)-(f) The Department of Treasury and Finance (DTF) assists all agencies in the application of accounting standards each financial year.
No agency received an audit qualification related to this Standard last financial year.
No agency received an audit qualification related to this Standard last financial year.
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