TPP19-08 Agency Direction for the 2019-20 Mandatory Early Close
Early Close Procedures have been introduced to both facilitate earlier completion and improve the quality of year-end financial statements. This focus on improving the quality and timeliness of financial reporting is paying dividends. Agency and Audit Office feedback indicates Early Close Procedures have assisted in ensuring a smoother year-end process and more effective resolution of issues. Continued improvements by agencies has resulted in an unqualified Consolidated State Financial Statements audit opinion - a significant achievement. The focus going forward will remain on early identification of emerging issues and reducing misstatements and the underlying causes.
Issued: by Treasury
This AR is archived and has been replaced by the following document(s)
Key information
- Status
- Archived
- Type
- NSW Treasury Circular
- Identifier
- TPP19-08
- Compliance
- Not mandatory
- Created
- Updated
About
Early Close Procedures have been introduced to both facilitate earlier completion and improve the quality of year-end financial statements. This focus on improving the quality and timeliness of financial reporting is paying dividends. Agency and Audit Office feedback indicates Early Close Procedures have assisted in ensuring a smoother year-end process and more effective resolution of issues. Continued improvements by agencies has resulted in an unqualified Consolidated State Financial Statements audit opinion - a significant achievement. The focus going forward will remain on early identification of emerging issues and reducing misstatements and the underlying causes.