Description

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the Treasurer’s Direction TD19-02 Mandatory Early Close as at 31 March each year, including the defined terms which also apply to this TPG.

TD19-02 and this TPG define the minimum requirements for the Early Close Procedures. Agencies may wish to perform additional procedures as part of a strategy to improve the quality and timeliness of financial reporting. This includes the completion of hard close procedures, which Treasury supports and encourages.

TD19-02 and this TPG also describe several procedures to confirm that key controls over Agency balances are carried out and that there is early dialogue with Treasury and the Audit Office on significant issues. These procedures form good practice that should in any case be carried out at appropriate points in the financial year.