Documents - ; Slanderous and defamatory allegations made by Mr Stirling against Mr Cleanthous and Deo
Tabled paper 1563
Tabled Papers for 8th Assembly 1997 - 2001; Tabled Papers; ParliamentNT
Tabledby Shane Stone
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
C l E A N i h o u s & D e o (b) Response The first paragraph merely means that the organisation has built on the land which it does not have tenant right. This is a standard qualification for all Aboriginal Corporations. The second paragraph relates to the asset register. In the past the auditors have disclaimed the accounts on the basis that there was no asset register and therefore not able to substantiate the assets. We undertook to compile an asset register, where Mr Whittington the ex administrator who has extensive experience on Aboriginal Corporation was to conduct the asset count. Subsequently an asset register was drawn up. As to the issue of obtaining a valuer to assess the assets, this issue was discussed by Mr Whittington with ATSIC where, ATSIC agreed the committee judgmental valuation would suffice as there was no funding to pay for a valuer to conduct the valuation of all assets. The third paragraph merely states that the auditor was not able to sight the fixed assets due to the remoteness of the outstations, once again a standard qualification given to Aboriginal Corporations. (c) Statements of Income and Expenditure - Qualification The detailed statements of income and expenditure, which form part of the financial report, are in accordance with the books and. records of the Association which have been subjected to auditing procedures. It will be appreciated, however, that the audit did not examine all details of accounts reflected in these individual statements and, to this extent, there is no guarantee that all operational transactions have been fairly stated in these statements of income and expenditure. (c) Response We are not able to understand why this qualification was noted as the auditor himself states in his scope paragraph That the examination was done on a test basis. So we are at lost with this qualification. (d) Capital Grants - Qualification As stated in Note 1(f) to the financial report, the Associations accounting policy on capital grants is to bring such grants to account as income. This is contrary to the accounting treatment required under International Accounting Standard IMS 20 -Accountingfor government (grants aneC (Disclosure o f government J^sistance. (d) Response This is merely an accounting issue, the policy was adopted to make things easier for the Executive Committee so that they are able to understand accrual accounting without further confusion. And this policy has been in force for a number of years. (e) Statement of Cash Flows - Qualification The Association has not presented a statement of cash flows in accordance with Australian Accounting Standard SlUS28 - Statement o f Cash JFCows. Instead, the Association has presented