Financial reporting

Finance and Asset Services is responsible for the financial reporting function of the Charles Darwin University. Financial reporting by the division encompasses reporting pursuant to the following:

  • Charles Darwin University Act 1998 (as amended) (The Act)
  • Instructions for the preparation of Annual Financial Reports by Australian Higher Education Institutions (DEST Publications)
  • Northern Territory Treasury reporting requirements
  • Department of Employment, Education and Training NT (DEET NT) reporting requirements
  • Reporting requirements of individual grant providers.

The major periodical report produced by the university is the Charles Darwin University Annual Report.

This document is produced pursuant to Section 41 of the Charles Darwin University Act 1998 (as amended).

The preparation and compilation of the University's annual report is a lengthy process which requires the full co-operation of all staff members of the University who have an input, whether directly or indirectly.

The process is planned and documented.

Finance and Asset Services, which has a major responsibility in the direct input into the annual report (in the form of the audited annual financial statements), has drawn up an Action Plan and Timetable for the completion of financial statements and its subsequent audit under the Charles Darwin University Act.

This Action Plan and Timetable is prepared each year in consultation with the Public Relations and Internal Communications Officer from Corporate Communications, to coordinate the data collection required to compile the Annual Report.

The Action Plan sets out the tasks and responsible/action officers along with deadlines for each task.

It serves as a checklist for tasks completed and to be completed in the process of compiling the annual report.

The majority of the tasks set out in this document are the responsibility of the University's finance staff.

The Public Relations and Internal Communications Officer has the responsibility of ensuring that his/her tasks are coordinated in such a manner that a complete document in the form of a draft annual report (including financial statements), is made available to the auditors within the legislative timeframes.