TPP21-01 Agency Direction for the 2020-21 Mandatory Early Close
Early Close Procedures have been introduced to both facilitate earlier completion and improve the quality of year-end financial statements. Agency and Audit Office feedback indicates Early Close Procedures have assisted in ensuring a smoother year-end process and more effective resolution of issues. 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This AR is archived and has been replaced by the following document(s)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
- TPP21-01
- Compliance
- Not mandatory
- Updated
About
Early Close Procedures have been introduced to both facilitate earlier completion and improve the quality of year-end financial statements. Agency and Audit Office feedback indicates Early Close Procedures have assisted in ensuring a smoother year-end process and more effective resolution of issues. The focus going forward will remain on early identification of emerging issues and reducing misstatements and the underlying causes.
This Policy Paper:
• should be read in conjunction with the Treasurer’s Direction TD19-02 on Mandatory Early Close as at 31 March each year, as amended from time to time
• provides additional directions to Agencies relating to Early Close Procedures
• defines the minimum requirement for the Early Close Procedures
• describes a number of procedures to confirm that key controls over Agency balances are carried out and that there is early dialogue with the Audit Office on significant issues.