ACAG
AUSTRALASIAN
COUNCIL OF
AUDITORS-GENERAL
MONTHLY UPDATE
January 31, 2008
(Incorporating December 2007 & January 2008)
For further information about any item please contact john.rosier@audit.nsw.gov.au.
In this Issue
General Items
ACAG Financial Reporting & Auditing Committee
Projects Underway
News from the Offices

Queensland

Western Australia
Coming meetings/teleconferences

ACAG

Joint ACAG - CCOLA

Canadian Council of Legislative Auditors (CCOLA)

National Association of State Auditors, Comptrollers and Treasurers

International Organisation of Supreme Audit Institutions
GENERAL ITEMS
The HR Group Message Board on the ACAG Intranet has been updated with some recent
material, including articles on HR initiatives by E&Y and Deloitte that have put them
into the Fortune "100 Best Companies to Work For". The Intranet is available to anyone
working in a public sector Audit Office anywhere and has members from Australasia,
Canada, England and Europe. Register at http://www.acag.org.au/register.htm
(Dec 2007)
6/12/07
Circulated to Auditors-General information from an OAG WA staff
member (Carolyn Simmonds) currently on secondment regarding research on “ Making
Sense of Whole-of-Government Financial Reporting”.
7/12/07
Circulated to Auditors-General information from Mr Blake regarding a
comparison of legislation dealing with Budget integrity.
9/12/07
Circulated to Auditors-General an article advising of a Victorian Court
decision ordering that certain Cabinet papers be released under a Freedom of
Information request.
10/12/07
circulated.
Final Minutes of ACAG Meeting of 15 and 16 November were
19/12/07
Participants’ evaluation of the Performance Audit Training was
circulated by Mike Scott (NZ presenter) indicating that the workshop was once again well
received and successful in raising the knowledge of delegates attending, with some useful
suggestions for future workshops being provided.
19/12/07
Final Minutes of Performance Audit Heads meeting were issued.
19/12/07
Issued final Terms of Reference for a working party to agree a consistent
approach to the Audit of GAAP/GFS financial statements.
(Jan 2008)
14/01/08
Reminder sent to IS Audit Heads by Ross Schamburg (QAO) of the
ISACA conference in Sydney during September 2008 and inviting interest from them
in a meeting either before or after that conference.
15/01/08
WA provided information regarding the Commonwealth/State agreement
to reduce hospital waiting lists.
23/01/08
Advised Auditors-General of article appearing in the December 2007 issue
of the Australian Journal of Public Administration looking at the role of AuditorsGeneral in relation to government advertising and referring to a number of their
reports and to the ACAG submission to the Commonwealth JCPAA inquiry.
23/01/08
Circulated to ACAG Contact Officers an article about the variety of
attitudes adopted by Australian companies (including some of the larger accounting
firms) in relation to the social networking websites (MySpace, Facebook, YouTube).
25/01/08
Provided Audit Offices with recent articles regarding reform of
Commonwealth Specific Purpose Payments to the States and Territories, outlined
some of the audit ramifications which may emerge and suggested certain local action by
Audit Offices prior to considering a collective response.
25/01/08
Advised Audit Offices of the establishment of an ACAG Sub-Group on
Practice Management to be sponsored by Mr Glenn Poole (QAO) and be Chaired by Mr
David Mills (QAO General Manager – Operations) and asked that those Offices wishing
to participate should nominate their representative.
30/01/08
Request that Auditors-General nominate their preferred dates for ACAG
Business Meetings in 2008.
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ACAG FINANCIAL REPORTING & AUDITING COMMITTEE (FRAC)
3/12/07
ACAG submission lodged on AASB ED 159 Proposed Improvements
to Australian Accounting Standards
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6/12/07
ACAG Survey - Post-Audit Quality Assurance Program - Financial
Audit - Johann.Jansz@audit.vic.gov.au
6/12/07
ACAG survey: audit fees and work in progress estimates Sandy.Thomson@audit.wa.gov.au
7/01/08
ACAG Survey: Request
Susanna.Tulkiewicz@audit.wa.gov.au
8/01/08
ACAG Survey:
Johann.Jansz@audit.vic.gov.au
for
Sponsorship
Confidentiality
of
policy
Working
advice
Papers
-
-
9/01/08
ACAG Survey: Treatment of Assets granted ( transferred) by
Government to third parties - Johann.Jansz@audit.vic.gov.au
10/01/08
ACAG Action: Exposure draft ED 160 Proposed Amendments to IFRS
1 First-time Adoption of International Financial Reporting Standards and IAS 27
Consolidated and Separate Financial Statements - Cost of an Investment in a
Subsidiary, Jointly Controlled Entity - no ACAG Response
10/01/08
ACAG action: Exposure draft of proposed amendments to IFRS 2 and
IFRIC 11 - no ACAG response
10/01/08
ACAG Action on AUASB ED on ASAE 3100 Compliance
Engagements [Due date: 15/2/08] - WA coordinating
18/01/08
ACAG Action on proposed ISA 265, Communicating Deficiencies in
Internal Control [Due Date: 30/4/2008] - NZ coordinating
21/01/08
ACAG Action on APESB Exposure Drafts ED 06/07 Proposed
amendments to Auditor Independence Requirements in APES 110 “Code of Ethics for
Professional Accountants” and ED 07/07 Proposed Standard APES 225 “Business
Valuation” - No ACAG response.
29/01/08
ACAG Action on proposed ISA 520 (Redrafted), Analytical Procedures
[Due Date: 31/3/2008] - seeking a coordinating office
29/01/08
ACAG Action on proposed (ISAE) 3402, Assurance Reports on
Controls at a Third Party Service Organization [Due Date: 31/5/2008] - seeking a
coordinating Office
29/01/08
ACAG Action on proposed ISA 402 (Revised and Redrafted), Audit
Considerations Relating to an Entity Using a Third Party Service Organization [Due
date: 30/4/2008] - seeking a coordinating office
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29/01/08
ACAG Action on proposed ISA 501 (Redrafted), Audit Evidence
Regarding Specific Financial Statement Account Balances and Disclosures [Due
Date: 31/3/08] - seeking a coordinating office
29/01/08
ACAG submission on Exposure Drafts re proposed (ISQC) 1 (Redrafted),
Quality Control for Firms and (ISA) 220 (Redrafted), Quality Control for an Audit of
Financial Statements. [Due: 11/1/07] posted on ACAG Intranet
29/01/08
ACAG submission on latest IAASB clarity Exposure Drafts ISA 700
(Redrafted), ISA 705 (Revised and Redrafted), ISA 706 (Revised and Redrafted),
ISA 800 (Revised and Redrafted) and ISA 805 (Revised and Redrafted) posted on
ACAG Intranet
30/01/08
ACAG Action: Invitation to Comment on the Not-for-Profit Entity
Definition - ANAO coordinating
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PROJECTS UNDERWAY





Audit Quality Assurance Review project (contact Brahman, Queensland)
Procurement of contracted service provider for ACAG 2008 Macro
Benchmarking & Client/ Parliamentarian Surveys (contact John Rosier, NSW)
Developing an ACAG response to the AUASB’s Exposure Draft on Performance
Engagements, when issued (Stuart Kells, Victoria)
Updating ACAG’s position paper on Government Advertising (Phil Thomas,
NSW)
Coordinating a Working Group to agree a consistent approach to the Audit of
GAAP/GFS financial statements (Frank McGuiness, NT and Brandon Jarrett,
ANAO)
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NEWS FROM THE OFFICES
QUEENSLAND
● Our ipsam Audit Software Development Project was nominated for the 2007
Premier’s Awards for Excellence in Public Sector Management. From 110
nominations across eight award categories, the ipsam software project was one of
three finalists for the Innovation and Creativity award. While we did not win the
Award, our selection as a finalist was recognition of the hard work and dedication of
the Project team and ultimately the quality of ipsam.
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● The Practical People Management (PPM) program, a leadership and people
management development program for AO5-AO7s developed as part of a whole-ofgovernment Leadership Capability Development strategy, has been introduced at
QAO. The program is action-learning based, recognising existing knowledge and
focuses on workplace-relevant skills development.
● Audit Principal, John Crook, has been recognised by the Auditor-General of the
Solomon Islands, Augustine Fatai, for his work in providing specialist intensive
training in auditing to a group of 28 local staff from the Solomon Islands Audit Office.
The Auditing Conceptual Framework Programme covered all segments comprised in
an audit of public sector entities. John has returned to QAO after this experience and
brings back to the office some of the skills and experience gained during his time in
the Solomon Islands.
● QAO’s bi-annual Organisational Effectiveness Staff Survey was conducted in January
2008.
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WESTERN AUSTRALIA
Attest Audit Cycle
The Audit Results Report for agencies with 30 June 2007 balance dates was tabled on
28 November and surveys of the audited agencies are near completion.
Preliminary Investigation – Tendering Process – Fiona Stanley Hospital.
Finalised in November, the conclusion of this preliminary investigation (initiated
following a request from a member of Parliament) was that both tenders examined
complied with relevant policies, and guidelines and aspects of the process represented
good practice. No significant matters were identified that would warrant further
investigation, or a report to Parliament.
Report of the Legislative Assembly Public Accounts Committee
On 22 November 2007, the Legislative Assembly’s Public Accounts Committee
tabled its Review of the Reports of the Auditor General 2006-2007. The Committee’s
follow-up process is important to ensure that recommendations made by the Auditor
General are given close consideration by the public sector.
OAG Executive Appointments
 Glen Clarke has been appointed Deputy Auditor General, a position in which he
was previously acting.
Work in Progress
 Practice Management System has been progressed with eTrack Products Pty Ltd
now into the design/implementation phase
 Several audit projects due for completion in the first quarter of 2008 (further
information on these projects are available at www.audit.wa.gov.au)
 Finalisation of the first pilot of the ACAG self assessment process.
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COMING MEETINGS/TELECONFERENCES
ACAG
2008
February, Working Group on Audit of GAAP/GFS Financial Statements
Feb/March, Audit Quality Assurance Review Panel (suggest Brisbane)
Feb/March, Financial Reporting & Auditing Committee (suggest Melbourne)
April 21-23, ACAG/SPASAI Regional Working Group on Environmental Auditing
(Melbourne)
May, Performance Audit Executives (suggest Sydney)
June, ACAG Financial Reporting & Auditing Committee (teleconference due)
July, Mid-year ACAG (suggest Sydney)
October, Financial Reporting & Auditing Committee (suggest Sydney)
November, Full ACAG (suggest Brisb)
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JOINT ACAG – CCOLA
2008
7 - 10 April, ACAG-CCOLA International Conference (Melbourne)
OVERSEAS
(Not all meetings may be open to non-members. Please make your own enquiries.)
Canadian Council of Legislative Auditors (CCOLA)
2008
February 4-5
April 17-18
May 5-6
June 11-12
CCOLA; Strategic Issues Group; Public Accounts Forum
(Montreal, QC)
Quality Assurance Committee (Quebec, QC)
HR Network – Annual meeting (Quebec, QC)
CCOLA IT Committee – Annual meeting (Quebec, QC)
National Association of State Auditors, Comptrollers and Treasurers
2008
March 12-14, NASC Annual Conference, Denver, CO
April 14-16, NSAA/NASC Joint Middle Management Conference, Springfield, IL
June 3-6, NSAA Annual Conference, Baltimore, MD
August 9-13, NASACT Annual Conference, Chicago, IL
September 8-10, NASACT Training Directors Forum, Pittsburgh, PA
October 7-10, NSAA IT Workshop and Conference, Reno
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International Organisation of Supreme Audit Institutions (INTOSAI)
International Organization of Supreme Audit Institutions
2008
April 2-3, 9th Annual meeting of Auditors General Global Working Group - Marrakech,
Morocco
April 8-9, Sub-Committee on Financial Audit Guidelines meeting - London, United
Kingdom
April 9, IDI Board meeting - Oslo, Norway
April 14-18, 11th SPASAI Congress - Cook Islands
May (TBD), 17th Committee on IT Audit meeting - Japan
July 7-9, 20th Commonwealth Auditors-General Conference - Bermudas
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