Media Contact: Jo Large Mobile: 0450 965 401 Email: jo.large@audit.wa.gov.au 6 May 2015 TERTIARY EDUCATIONAL INSTITUTIONS AUDIT RESULTS REMAIN STEADY, BUT UNIVERSITIES SHOULD ADDRESS THEIR INCREASING LEAVE LIABILITIES The Audit Results Report was tabled in Parliament today by the Auditor General. Overall, this report showed that the quality of financial reporting and controls at the State’s universities and state training providers remained steady, although the number of unresolved issues from the previous year increased. “This year’s report highlighted that universities need to continue to proactively manage their annual and long service leave liabilities, and this is really a message for all agencies,” said Mr Murphy. Universities’ annual and long service leave liabilities continued to grow and now sit at $255 million – a 22 per cent increase in three years. The Audit Results Report also detailed the clear audit opinions that were issued to all four public universities, the 11 state training providers, and six university subsidiaries. “Although fewer tertiary institutions achieved best practice status for good financial controls and reporting practices this year, most audits were completed earlier than the previous year.” Mr Murphy recommended that tertiary educational institutions and other agencies address the financial management, KPI and information systems control issues brought to their attention during their audit in a timely manner. The report again included a summary of selected key financial and performance information for each of the educational institutions. The Auditor General’s report Audit Results Report – Annual 2014 Financial Audits (Report 7 – May 2015) can be downloaded from the Office of the Auditor General website at www.audit.wa.gov.au ENDS Follow us on Twitter @OAG_WA