Annual Report 1995/1996 Northern Territory Tourist Commission
Tabled Paper 2792
Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT
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.
the key activities of the Commission's goals and objectives. These managers are required to report to the Managing Director on a monthly basis on their performance against their budgets and clearly explain variations and remedial action to be taken to address potential over and under spends. Tn addition, the Commission's financial management is reviewed by the Board on each occasion that it meets and more in-depth scrutiny is carried out by the Finance and Audit Committee. The Commission's financial and management control policy and procedures are detailed in an Accounting and Property Manual which was issued in 'draft' form in 1995/96. I N T E R N A L A U D I T S Internal audits are a management tool primarily concerned with evaluation, compliance and verification and are therefore an important element in the Commission's internal control environment. Treasurer's Directions require that: Accountable Officers ensure that their Agency has an adequate internal audit capacity; attest in a representation letter to the Minister that, amongst other things, proper systems of internal control are in place; an appropriate program of internal audit is developed for each Agency; internal audit operates under a charter supported by the Accountable Officer; internal audits are performed by skilled auditors and that the requirement of professional bodies are met; and Accounting and Property Manuals contain procedures and appropriate controls. The Commission has 'contracted', via a Service Level Agreement, with the Strategic and Audit Services Branch of the Department of the Chief Minister to provide internal audit support to the Commission. In addition to the above, qualified staff within the Commission's Finance Unit carry out internal audits of the Northern Territory Holiday Centre Trust Account at least twice a year. The Commission's internal audit arrangements are determined and oversighted by a standing Finance and Audit Committee of the Board (refer page 50 for details). The Commission's finance, accounting, purchasing and payment policies and procedures are issued in the form of an Accounting and Property Manual. This Manual was extensively rewritten in 1995/96 to incorporate changes brought about by the introduction of the F in a n c ia l M a n a g e m e n t A c t and was released to all staff in a final form in early July, 1996. In 1995/96, the Strategic and Audit Service Branch undertook an internal audit (via a contracted auditor - Deloitte Touche Tohmatsu) of the Commission's compliance with Government procurement legislation and policy in relation to the printing of the 1996/97 Holiday Series marketing documents. The audit focussed on the Commission's tendering procedures and practices in relation to this print job. The audit found that whilst proper procedures were followed, more formal documentation of procedures both at an agency level and in dealings with the Procurement Review Board, would be advantageous. Recommendations arising from the audit have been fully implemented by management. A N N U A L R E P O R T 1 9 9 5 ~ 19 9 6