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Auditor-General Report No. 47 of 1997–98
Management of Commonwealth Guarantees, Indemnities and Letters of Comfort
Published
Tuesday 23 June 1998
Portfolio
Across Entities
Entity
Across Agency
The objectives of this audit were to assess, with respect to guarantees, indemnities and letters of comfort:
- changes in the size and nature of the Commonwealth's reported exposure since 30 June 1995;
- the extent of improvement in agencies' management and monitoring of the Commonwealth's exposure to these instruments;
- the approach of agencies to effective risk management and control of Commonwealth exposures to these instruments; and
- whether current reporting practices provide a sufficiently comprehensive coverage for public accountability purposes, at both the agency and whole of government levels.