A report by the Auditor-General, Brendan Worrall summarises the financial audit results of the six State-owned entities in the State’s water sector for 2019-20.
The entities are Seqwater, Sunwater, Urban Utilities, Unitywater, Gladstone Area Water Board, and Mount Isa Water Board.
Mr Worrall said all entities’ financial reports were reliable, apart from one non-recorded liability and expense by one entity.
“This year, we identified more weaknesses in the systems and processes (internal controls) entities use to prepare financial statements,” Mr Worrall said.
“Security of information systems is an issue in four of the six entities, and continues to be the most common weakness across the public sector.”
He said the sustainable supply of water also continued to be a challenge for the sector.
“With the majority of Queensland in drought, entities will need to prioritise water security projects as the extreme weather conditions increase operating expenses,” he said.
The Auditor-General said his report made two recommendations for all entities around strengthening the security of information systems and understanding complex employee arrangements, and one for distributor-retailers around improving timely recognition of donated assets.
“We have also published an interactive dashboard that allows people to explore water entities’ financial performance, and view water storage levels, the number of dams, and drought-declared areas,” Mr Worrall said.
He pointed out that the report was finalised in October, but was held until after the State election.
“Under the office’s tabling protocols in the Auditor-General Auditing Standards, we do not send reports for comment or tabling during a caretaker period or estimates hearings.” Mr Worrall said.
The Auditor’s full 32-page report can be accessed at this PS News link.
