Financial viability and funding

• most significant theme affecting a number of TEIs to varying degrees; was top of mind across the sector
• TEIs proactively addressing financial viability challenges through restructuring cuts, rationalisation, business transformation, exploring merger options, review of service functions

Procurement

• Some improvements (some are big improvements), but as a whole the sector remains weak in policy and practices
• Likely to remain a focus area for auditors

Capital asset management

• Still poor across the sector
• TEC taking the lead with input from the Treasury, so expect to hear more from them soon

Performance reporting (SSPs)

• Still seen as a compliance procedure by many TEIs
• Recommend TEIs use performance reporting to drive and manage their business

Trust and foundation consolidation

• Auditor-General to conclude on whether the remaining unconsolidated foundations are public entities or not before end of 2010 financial year

Legality of investments

• TEC is reviewing the current investment protocols; updated guidance expected before end of this year
• Purpose is to provide greater clarity and guidance