The NSW Audit Office has released a report on the results of financial audits of NSW universities for the year ended 31 December 2019; before the impact of the COVID‑19 pandemic.
All ten NSW universities received unqualified audit opinions.
NSW universities provided data on COVID‑19 impacted student enrolments for semester one 2020. Overall numbers of student enrolments in semester one 2020 were 5.8% beneath projections. Overseas student enrolments were 13.8% beneath expectations and domestic student enrolments were 2.4% below expectations.
Some key findings
The audits identified 108 internal control deficiencies (99 in 2018) across NSW universities of which 35 were repeated from the previous year. Information technology (IT) deficiencies accounted for 48 of the findings. One high risk finding related to the University of NSW involving incorrect payment rates for casual academic staff in some cases.
Some key recommendations
The report makes recommendations aimed at strengthening controls over information technology, cyber security, validating published performance information, procurement practices and the oversight of their overseas controlled entities’ legal and policy compliance functions.
You can read the full report and details of recommendations at the NSW Audit Office website.