Commonwealth Financial Statements - Inquiry based on Auditor-General's report No. 24 (2017-18) 

Any items, matters or circumstances connected with the following Auditor-General report:

• No. 24 (2017-18) Audits of the Financial Statements of Australian Government Entities for the Period Ended 30 June 2017

The inquiry may consider all matters raised in the Audit Report including:

• equity investment, concessional loans and contingent liabilities, and the applicable budget, accounting and valuation rules
• significant and moderate findings for NDIA
• management of IT controls 

Background

Having considered Auditor-General Report 17-50 (2017-18) on 27 June 2018, the Joint Committee of Public Accounts and Audit resolved to conduct an inquiry based on the above Auditor-General report.

Under section 8(1) of the legislation establishing the JCPAA, the Public Accounts and Audit Committee Act 1951, one of the duties of the Committee is to ‘examine all reports of the Auditor-General (including reports of the results of performance audits) that are tabled in each House of the Parliament’ and ‘report to both Houses of the Parliament, with any comment it thinks fit, on any items or matters in those … reports, or any circumstances connected with them, that the Committee thinks should be drawn to the attention of the Parliament’.