A summary of Queensland Audit Office reports on the various entities in the education sector has found that financial statements are reliable, but falling enrolments among both international and domestic students remain a problem.
The audit report covered the Department of Education, the Department of Youth Justice, Employment, Small Business and Training, TAFE Queensland, seven universities, eight grammar schools and other statutory bodies.
It found that the entities had efficient and effective financial statement processes, and they were able to prepare good quality financial statements.
However, security of information systems needed to be strengthened
“While the entities are addressing deficiencies identified in prior years and improving the security of their systems, the risk of cyber-attacks continues to increase, which highlights the need for greater urgency,” the audit stated.
“In 2022, a cyber-security incident partially disabled one university’s information technology network when a compromised account was accessed.
“Given how much the entities rely on their information systems, it is critical that they establish stronger controls to protect their sensitive information from unauthorised users and cyber criminals.”
The audit found that universities were managing risk, but could do more with most using spreadsheets to record and monitor risks.
“They would benefit from having a central system that automates the recording and monitoring of risks. This would provide efficiencies in processes and would also give them a big-picture view of risk across their business,” the audit stated.
All universities, except for one, made a loss.
“The easing of Australia’s border restrictions in 2022 saw a small increase in revenue from international students, but revenue remains below pre-pandemic levels. However, a decline in domestic student enrolments has proved to be challenging,” the audit said.
“More students are deferring or reducing their studies to enter the workforce and manage cost-of-living pressures,” it said.
“TAFE Queensland is also experiencing similar challenges and will need to continue assessing its cost-of-service delivery.”
The Education 2022 audit report can be accessed at this PS News link.
