Universities Finance Officers Group Conference at University of Sydney on 21 and 22 May 2012 Presentation by the Audit Office of New South Wales Greg Gibson James Sugumar Peter Barnes

What We Wish To Share Audit Office Working with Universities Auditor-Generals Reports Common Management Letter Points Debrief on 31 December 2011Audit

Working With Universities Liaison with FOG, DEEWR and DIISR AGs Contacts with the VCs Continuous Participation with the Industry Sharing Our Views on Common Issues

Auditor Generals Reports Key Public Sector Issues Noted in 2011 Administrative Restructure Legal and other Compliance Financial Statements Quality of Accounting Staff Finance Systems Risk Management Fraud Awareness

Auditor Generals Reports Key Issues Noted in Universities in 2011 Fewer Recommendations Good News Stories Capital Expenditure Programs Defined Superannuation Plan Financial Performance Benchmarks Regional and Country Presentation

Common Management Letter Points Student systems Controls Internal Controls over Journals Superannuation Debt Management IT Security Fixed Asset Register Corporate Credit Card Payroll Controls

Debrief On 2011 Audit All ten met the reporting deadlines Improved financial statements Excellent rapport and communication Timely completion of controlled entity audits Efficiency in the audits of overseas entities Proactive cost saving initiatives Use of IT technology on country audits Early identification and resolution of issues