18-04 OLG Financial Reporting Roadshows 2018
Date: Tuesday 20th February 2018
Category: Council Circular
Circular Details |
Circular No 18-04 / 20 February 2018 / A582048 |
Previous Circular |
NA |
Who should read this |
General Managers / All council finance staff |
Contact |
Policy Team / 02 4428 4178 / code@olg.nsw.gov.au |
Action required |
Information / Response to OLG |
PDF Version of Cirucular |
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Attachment/s |
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What’s new or changing
- The Office of Local Government (OLG) is conducting a series of information sessions in March and April 2018 on impending Accounting Standards and the auditing of financial statements.
- There will also be an opportunity at the sessions to discuss accounting issues and provide input into OLG’s financial reporting policy and guidelines.
- Details of the dates and locations for the information sessions are shown in Attachment A.
What this will mean for your council
- All council staff involved in accounting practice and financial reporting are encouraged to attend.
Key points
- The information sessions will be held at eight locations across NSW during March and April 2018, and are designed for council finance staff playing a role in accounting and financial reporting functions.
- The sessions will include:
- an overview of the three new accounting standards that will apply to financial statements in the near future:
- AASB 15 Revenue from Contracts with Customers;
- AASB 1058 Income of Not-for-Profit entities
- AASB 9 Financial Instruments; and
- AASB 16 Leases.
- 2016-17 auditing of financial statements (Audit Office observations and themes) and focus areas for 2018; and
- discussion on accounting issues, policies and guidance.
- an overview of the three new accounting standards that will apply to financial statements in the near future:
Where to go for further information
- The online registration system for the OLG Financial Reporting Information Sessions is now open, and can be accessed at: http://www.olg.nsw.gov.au/strengthening-local-government/supporting-and-advising-councils/accounting-practice
Tim Hurst
Acting Chief Executive