UNQUALIFIED AUDIT REPORT GIVES STATE ACCOUNTS THE GREEN LIGHT

The NSW Government has tabled the full report of the 2020-21 Total State Sector Accounts (TSSA) that were signed off by the NSW Treasurer, Matt Kean late last year.

The NSW Auditor General has provided an unqualified audit opinion on the TSSA’s which aligns with NSW Treasury’s accounting treatment across the full report of the state’s finances.

Mr Kean said this is an important outcome, demonstrating the NSW financial accounts are a true and accurate reflection of the financial position of the state.

“I want to thank the many teams at NSW Treasury that worked through the many complex accounting standards, including the accounting treatment of various State Owned Corporations.”

“What this shows is that, despite claims to the contrary, the NSW finances are now validated and verified as accurate by the NSW Auditor General based on her unqualified opinion.”

“I also want to thank the collaborative approach taken by the Audit Office and the Auditor General Margaret Crawford in working through this complex process.”

Each year NSW Treasury and the Auditor-General work collaboratively to align, understand and review the TSSA to ensure they have been appropriately prepared in accordance with complex national and relevant accounting standards.

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