Audit results at a glance

Tertiary education institutions: 2019 audit results and what we saw in 2020.

23 of 27 TEIs reported on time
24 of 27 received unmodified audit opinions
Categories of new recommendations in 2019		Top 4
		1 – improving controls related to expenditure, including payroll; 2 – improving compliance in the application of accounting and other policies; 3 – improving the process to value assets, and maintaining fixed asset registers; and 4 – improving technical accounting knowledge and application.

36 “Emphasis of matter” paragraphs
We used emphasis of matter paragraphs in the ITP audit reports to draw attention to the disclosures about uncertainty created by the Government’s planned reforms of vocational education. We also used them in the reports for all TEIs to draw attention to disclosures relating to the possible effects of Covid-19 on the operations of the TEIs.