Audit completion status
Presentation: Review of 2008 TEI audit results.
Some TEIs missed the statutory reporting deadline of 30 April 2009
Key reasons:
- Late identification of "inappropriate" treatment of QRP and DCF funding receipts
- Knowing the Crown's intention for the appropriation is an important consideration
- Late change to current financial statements
- Restatement of prior year financial statements
- Clarity of QRP funding agreements will help
- Delay in completing material subsidiary company accounts
- Self-disclosure in financial statement for not meeting reporting deadline
