The Victorian Auditor-General has tabled in Parliament the findings of the interim financial audit of local government.
Among the recommendations, the Auditor-General advised local governments to assess their own policies and procedures against identified internal control weaknesses and prepare policies for declarations of interest and gifts.
The report also recommended that guidance be provided for the adoption of consistent approaches for presenting income and expenditure in the comprehensive income statement.
"Councils need to futher strengthen their internal controls, particularly those over information technology change management policies and declaration of interest," the report stated.
"The utility and consistency of financial reporting across the local government sector is reduced by a lack of timely coordination and guidance in the adoption of consistent approaches for presenting income and expenditure in the comprehensive income statement and valuing land under roads reported in the balance sheet."
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at firstname.lastname@example.org.
Sign up to the Government News newsletter