By CPA Australia
CPA Australia has released a report that examines how public sector organisations across the 3 levels of government use annual reports, including financial statements, to show they are accountable.
CPA Australia is the peak body representing Certified Practising Accountant (CPA) members in Australia.
The report examines how information in annual reports is used by external stakeholders to hold management and those charged with governance accountable in their duties.
It also scrutinizes how annual report information is used to assess stewardship of the organisation’s resources, and for making other decisions.
Key conclusions from the report are that:
- complexity remains a challenge
- standardised service performance reporting is needed
- budgetary information is useful
- more guidance is needed
- sustainability reporting should be addressed
- there is a demand for digital reporting
Following these conclusions, the report makes 13 recommendations for the future of reporting by organisations in this sector.
Find more resources, training and events for the public sector by visiting the CPA Australia website.