Audit Committee to scrutinise the Commonwealth Financial Statements

THE Joint Committee of Public Accounts and Audit (JCPAA) has commenced an inquiry into the 2023-24 Commonwealth Financial Statements, which are audited each year by the Australian National Audit Office (ANAO).

This audit provides the Parliament with an independent examination of the Commonwealth’s accounts and possible financial statement risks.

Committee Chair Josh Burns MP, said, "Investigating different aspects of the Commonwealth Financial Statements Audit findings by ANAO continues to be an integral aspect of the JCPAA’s work. This inquiry provides a valuable vehicle for this Committee to further scrutinise any issues with the governance arrangements and internal control frameworks of Commonwealth entities on behalf of the Parliament."

Areas of interest to the committee include:

• legislative breaches relating to incorrect remuneration payments;
• greatly increased AI use across the Commonwealth but a lack of established internal policies governing this technology in more than one-third of entities;
• issues with the IT control environment, particularly IT security;
• the timeliness of financial statement preparation.

The inquiry will examine Auditor-General Report No. 22 of 2024-25: Audits of the Financial Statements of Australian Government Entities for the Period Ended 30 June 2024.

The committee has invited submissions to the inquiry, to be received by Friday, December 5, 2025.

Details of the inquiry – including the terms of reference and public hearings – will be made available on the Committee website.

ends