Challenges of the Reduced Disclosure Reporting Regime in Australian Public Sector

 
 
Impact of Reduced
Disclosure Reporting
Regime – Australian
Evidence
 
Robyn Pilcher and David Gilchrist
 
Background
 
Result of ongoing dissatisfaction with regard to sector neutral
/ transaction neutral framework
Reduced Disclosure Regime – Commenced 1 July 2013
Could have early adopted
No Australian Jurisdictions have adopted the RDR
Tier Arrangement
Consists of Lines Through Standards:
AASB 1053: Tiers
2010-2: Standards
 
Problems
 
Whole of Government Reporting
Place of Micro-entities
Differences in Jurisdictions
 
Ongoing Issues
 
Lack of User Centricity
Neutrality of Framework
Place of IASB and PSASB
Decision Making Focus:
Budget Process
Half Yearly review Process
Government Finance Statistics Reporting
AASBs – Financial Allocative Decision Focus
 
Public Sector Resourcing
 
 
Expenditure History
Budget Process (Political)
Mid Year Review (Political)
End of Year Accounts
 
Theoretical Framework
 
New Public Management:
Introduced in Europe in 1980s
Closing the gap between Public Sector and Commercial “styles”
 
Agency Theory:
Resurgence in academic circles
BUT – who are the principals and who are the agents?
Place of Government
Place of Parliament (Parliamentary Sovereignty Theory)
Place of the Community
An aside – Integrity Agencies
Pragmatic Washminster System
 
 
 
Regulatory Framework
 
Treasurer’s Instructions
Certification Requirements
Personal Responsibility
Australian Accounting Standards
Health Department Guidelines and Policies:
Delegations
Approvals
Commonwealth Reporting Requirements
 
 
 
Legislative Framework
 
Financial Management Act 2006
Auditor General’s Act 2006
Corruption and Crime Commission Act 2003
 
Audit & Accountability
 
Public Sector Audit Process:
 
Opinions:
Financial Opinion
Key Performance Indicators
Controls
 
 
 
Methodology
 
Document Review
Interviews – key WA Treasury Staff
Interviews – key Office of the Auditor General staff
Reconciliation of the Treasury Models against the RDR
requirements
 
Findings
 
Users remain undefined
What is removed is not relevant to PS
Whole of Government Reporting
Agency issues
Qualitative Materiality in Public Sector
Treasury Models
True Savings?
 
 
Ongoing Research
 
Heads of Treasury Reports I and II
WA Treasury Project
Local government
Great Western Four Public Sector Group – Bath, Cardiff, Exeter
and Bristol
 
 
Future Arrangements?
 
Public Sector RDR (PS-RDR)
Third Tier of RDR (RDR3)
Enhanced Framework
Public Sector Standards
Slide Note

When would the basis audit responsibility of the auditor be extended?

Required by local laws or securities regulations.

What would that mean?

Require the auditor to undertake further work and to modify or expand the auditor’s report accordingly.

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Ongoing dissatisfaction with the Reduced Disclosure Regime (RDR) in Australian public sector reporting has led to issues such as lack of user-centricity, neutrality concerns, and complexity in government financial reporting. The framework's impact on government resourcing, expenditure history, and decision-making processes is under scrutiny. Legislative and regulatory frameworks, along with theoretical perspectives like New Public Management and Agency Theory, play crucial roles in shaping public sector reporting practices.


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  1. Impact of Reduced Disclosure Reporting Regime Australian Evidence Robyn Pilcher and David Gilchrist

  2. Background Result of ongoing dissatisfaction with regard to sector neutral / transaction neutral framework Reduced Disclosure Regime Commenced 1 July 2013 Could have early adopted No Australian Jurisdictions have adopted the RDR Tier Arrangement Consists of Lines Through Standards: AASB 1053: Tiers 2010-2: Standards

  3. Problems Whole of Government Reporting Place of Micro-entities Differences in Jurisdictions

  4. Ongoing Issues Lack of User Centricity Neutrality of Framework Place of IASB and PSASB Decision Making Focus: Budget Process Half Yearly review Process Government Finance Statistics Reporting AASBs Financial Allocative Decision Focus

  5. Public Sector Resourcing Expenditure History Budget Process (Political) Mid Year Review (Political) End of Year Accounts

  6. Theoretical Framework New Public Management: Introduced in Europe in 1980s Closing the gap between Public Sector and Commercial styles Agency Theory: Resurgence in academic circles BUT who are the principals and who are the agents? Place of Government Place of Parliament (Parliamentary Sovereignty Theory) Place of the Community An aside Integrity Agencies Pragmatic Washminster System

  7. Regulatory Framework Treasurer s Instructions Certification Requirements Personal Responsibility Australian Accounting Standards Health Department Guidelines and Policies: Delegations Approvals Commonwealth Reporting Requirements

  8. Legislative Framework Financial Management Act 2006 Auditor General s Act 2006 Corruption and Crime Commission Act 2003

  9. Audit & Accountability Public Sector Audit Process: Opinions: Financial Opinion Key Performance Indicators Controls

  10. Methodology Document Review Interviews key WA Treasury Staff Interviews key Office of the Auditor General staff Reconciliation of the Treasury Models against the RDR requirements

  11. Findings Users remain undefined What is removed is not relevant to PS Whole of Government Reporting Agency issues Qualitative Materiality in Public Sector Treasury Models True Savings?

  12. Ongoing Research Heads of Treasury Reports I and II WA Treasury Project Local government Great Western Four Public Sector Group Bath, Cardiff, Exeter and Bristol

  13. Future Arrangements? Public Sector RDR (PS-RDR) Third Tier of RDR (RDR3) Enhanced Framework Public Sector Standards

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