Financial Audit
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Last Updated: Friday, 20 April 2012 14:37
Victorian Auditor-General's Office - Financial Audit 2012
Access the Tender Brief and Conditions here (
191.97 Kb) .
Questions and Answers
Clarification Point No. 1 - Date: 20 April 2012
Question:
Page 3 of the Tender Brief refers to one of the roles of the financial auditor as: "meet on a regular basis with the VAGO Audit Committee to discuss, clarify and resolve issues and findings."
- What is meant/expected by "on a regular basis", how often or how many times each year?
- Would meeting say up to three times a year meet this expectation i.e at the Planning stage, then on completion of the interim audit and then a final meeting at the end of the audit?
Answer:
- As an indication, based on the past two financial years' attendances, a financial auditor is expected to attend at least two formal VAGO audit committee meetings.
- An allocation of up to three formal meetings a year with VAGO's Audit Committee will meet this expectation, however, as a matter of good practice, the financial auditor should make provision for accessing the Audit Committee on an as needs basis also, outside formal meetings.
