Legislative Council Fifty-First Parliament, Second Session (51-2) 51 2 Parliament of South Australia Legislative Council published Answers to Questions Financial Reporting FINANCIAL REPORTING The Hon. C.V. SCHAEFER Legislative Council FINANCIAL REPORTING In reply to the Hon. C.V. SCHAEFER (23 October 2007). The Hon. G.E. GAGO Legislative Council Minister for Environment and Conservation, Minister for Mental Health and Substance Abuse, Minister Assisting the Minister for Health FINANCIAL REPORTING The Hon. G.E. GAGO (Minister for Environment and Conservation, Minister for Mental Health and Substance Abuse, Minister Assisting the Minister for Health): The number of prescribed bodies that previously dealt with NRM issues, which have now been consolidated into eight NRM Boards, and the consequent reporting and audit requirements flowing from this, represented the core difficulties encountered by the Audit. The Government did provide appropriate assistance in important areas of financial reporting, by assisting the boards to understand and plan for the transitional reporting requirements, so as to satisfy public sector reporting standards. This included dialogue and correspondence with the Auditor-General, on behalf of the Boards, on complex accounting issues affecting the Boards, such as the basis for consolidation and format of financial reports. The Department of Water, Land and Biodiversity Conservation continues to assist the Boards and acts as a conduit between the Boards and the Department of Treasury and Finance for the provision and maintenance of certain key financial information. Options for additional support in financial reporting and budgeting are being considered.