External audit of the University of Wollongong and its controlled entities

⁠⁠⁠The Audit Office of NSW will shortly release the following tenders:

• RFT 01/2020 External audit of the University of Wollongong and its controlled entities

About the Auditor-General and the Audit Office of NSW

The Auditor-General for New South Wales helps the Parliament of New South Wales hold government accountable for its use of public resources. The Auditor-General is responsible for audits of NSW government entities, universities, and local councils, and also provides certain assurance services for Commonwealth grants and payments to the State under Commonwealth legislation.

The Auditor-General is accountable to the Parliament of New South Wales and regularly reports to parliament on audits conducted.

The Audit Office of NSW (the Audit Office) is a statutory authority, established under the Public Finance and Audit Act 1983, that conducts audits for the Auditor-General.

The Audit Office conducts financial and performance audits of NSW Government agencies, local councils and council entities, principally under the Public Finance and Audit Act 1983, the Corporations Act 2001 and the Local Government Act 1993.

Financial audits provide an independent opinion on NSW government entities', universities' and councils' financial statements. They identify whether their financial statements comply with accounting standards and relevant laws, regulations and government directions.

Working with the Auditor-General and the Audit Office

As a general practice, the Auditor-General for NSW enters into 3-4-year partnership arrangements with audit firms to deliver around 30 per cent of the financial audits.

Through the partnership arrangements, the Auditor-General aims to commission external audits that:

• result in the delivery of high quality audits
• help parliament hold government accountable for its use of public resources
• generate insights to inform and challenge government to improve outcomes for citizens
• encourage innovation and an openness to more diverse service delivery models
• are cost effective.