NTEU concerned over ANU's qualified accounts
The ANU Branch of the National Tertiary Education Union regards as within its purview all matters that affect the welfare of the staff and the reputation of the University. In past years the Branch has received comments from its members about the financial operations of the ANU. Some comments relate to the superannuation surplus and the University's financial statements contained in its annual reports to the Federal Government (see the Branch's Web site). The ANU's financial statements for both calendar years 1995 and 1996 were qualified by the Commonwealth Auditor-General on the grounds, among others, of its treatment of the superannuation surplus. In the 1995 statements the Auditor- General found that the effect of the departures from accounting standards was to increase the operating revenue for the year and accumulated surpluses by $27,479,000 (page 161 of the ANU Annual Report for 1995). In the 1996 statements the Auditor-General found that the effect of the departures from accounting standards was to increase the operating revenue for the year and understate reserves by $18,799,000 (page 127 of the ANU Annual Report for 1996). To have an auditor's qualification made against one year's financial statements is undesirable, to receive the same qualification in two successive years is worrying. The Branch is also concerned by the report of the Chair of the ANU Audit Committee to Council at its December 1997 meeting (ANU Web site) that the University was in breach of its statutory reporting requirements and that the Audit Committee was not in a position to verify some figures in the financial statements. The Branch is disturbed that such open questions should exist about the financial operations of a major Commonwealth entity. Barry Howarth NTEU Secretary, ANU Branch