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Annual report 2010 - 2011, Northern Territory Grants Commission



Annual report 2010 - 2011, Northern Territory Grants Commission


Northern Territory Grants Commission reports; Reports; PublicationNT




Made available via the Publications (Legal Deposit) Act 2004 (NT).






Northern Territory Grants Commission -- Periodicals; Local government -- Northern Territory -- Periodicals; Local finance -- Northern Territory -- Periodicals; Grants-in-aid -- Northern Territory -- Periodicals; Revenue sharing -- Northern Territory -- Periodicals

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Northern Territory Grants Commissions

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44 Annual Report APPENDIx F Independent Auditors Report to the Minister for Local Government Northern Territory Grants Commission Year Ended 30 June 2011 I have audited the accompanying financial report of Northern Territory Grants Commission, which comprises the income statement, balance sheet, and accompanying notes to the financial statements for the year ended 30 June 2011. The Accountable Officers responsibility for the Financial Report The Accountable Officer of the Northern Territory Grants Commission is responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and the Financial Management Act, and for such internal controls as management determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. Auditors Responsibility My responsibility is to express an opinion on the financial report based on my audit. I conducted my audit in accordance with Australian Auditing Standards. Those standards require that I comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entitys preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Accountable Officer, as well as evaluating the overall presentation of the financial report. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion the financial report presents fairly, in all material respects, the financial position of the Northern Territory Grants Commission as of 30 June 2011, and of its financial performance for the year then ended in accordance with Australian Accounting Standards and the Financial Management Act. F McGuiness Auditor-General for the Northern Territory Darwin, Northern Territory 14 October 2011

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