Page 1315 - Week 04 - Thursday, 21 April 1994
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INDICATIONS I WOULD EXPECT WHOLE OF GOVERNMENT ACCRUAL REPORTS TO BE AVAILABLE TO THE ASSEMBLY FOR 1997-98. THIS TIMEFRAME IS IN LINE WITH THE. DEVELOPMENT OF PUBLIC SECTOR ACCRUAL REPORTING STANDARDS BY THE ACCOUNTING PROFESSION.
WHILE THE TIMETABLE AT THIS STAGE IS ONLY INDICATIVE THE GOVERNMENT WILL CONSIDER A MORE DETAILED TIMETABLE IN JUNE THIS YEAR AND I WILL PROVIDE THE ASSEMBLY WITH FURTHER INFORMATION SUBSEQUENTLY.
THE COMMITTEE EXPRESSED SOME CONCERN REGARDING A REVIEW OF THE AUDIT ACT. MADAM SPEAKER, I INTEND TO INTRODUCE REVISED LEGISLATION DURING THE COMING FINANCIAL YEAR IN TIME FOR COMMENCEMENT IN THE 1995-96 FINANCIAL YEAR.
WITH REGARD TO THE TIMING OF THE AGGREGATE FINANCIAL STATEMENT, SIGNIFICANT IMPROVEMENTS HAVE OCCURRED SINCE THE AUDITOR GENERALS REPORT ON THE 1991-92 STATEMENTS. THE AGGREGATE FINANCIAL STATEMENT FOR 1992-93 WAS PROVIDED TO T (3E AUDITOR GENERAL IN TIME FOR IT TO BE INCORPORATED IN THE ..93-94 BUDGET PAPERS.
IT IS INTENDED THAT THE AUDITED 1993-94 AGGREGATE FINANCIAL STATEMENT BE PROVIDED TO THE ASSEMBLY IN SEPTEMBER 1994. ALTHOUGH THIS WILL NOT ASSIST THE ESTIMATES COMMITTEE, THAT IS A RESULT OF AN EARLY BUDGET RATHER THAN LACK OF TIMELINESS IN THE PREPARATION OF THE STATEMENT.
NONETHELESS, THIS GOVERNMENT WILL PROVIDE AS MUCH USEFUL INFORMATION AS POSSIBLE TO ASSIST THE ESTIMATES COMMITTEE AND IT IS EXPECTED THAT A PRELIMINARY AGGREGATE FINANCIAL STATEMENT WILL BE AVAILABLE TO THE COMMITTEE IN JULY.
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