Baird enlists auditor on NSW budget

NSW Treasurer Mike Baird has enlisted the help of the auditor-general to improve the state's financial reporting following accounting errors amounting to more than $1 billion.

Last month, Auditor-General Peter Achterstraat found 37 errors greater than $20 million in his examination of the 2011-12 state accounts, including two mistakes amounting to more than $1 billion.

The blunders included errors in spreadsheets, data entry, end-of-year accruals and reconciliation processes.

The report found the overall budget was $1 billion better off than expected.
Advertisement

On Tuesday, Mr Baird described the errors as "completely unacceptable" and said they confirmed a "significant weaknesses in financial reporting systems" across the whole of government.

Mr Baird also said Mr Achterstraat had agreed to review the upcoming budget half-year review and 2013-14 state budget, review the past financial management performance of all government agencies and resolve the errors in the 2011-12 accounts.

Link-
http://news.brisbanetimes.com.au/breaking-news-national/baird-enlists-auditor-on...
===============================
Well, it seems that the NSW Treasurer may be moving towards redemption?

Even if some on here were unwilling to admit there was even a problem!