The objectives of school council financial audits are to provide reasonable assurance:
The audits are also intended to:
- Over the financial activities under direct control of school councils and the financial governance and financial management of the school
- That the school financial report presents fairly, in all material respects, the school’s financial position and financial performance
- That the school financial report has been prepared in accordance with the Department’s Finance Manual for Victorian Government Schools and other financial guidelines/instructions relevant to schools’ financial reporting.
- Provide recommendations to improve the robustness of financial governance and the management of finances, accounting and internal control systems at individual schools and on a system-wide basis
- Collect information from schools for the purposes of identifying schools’ characteristics (for profiling and to inform targeted audit recommendations).