The Minster for Finance and Deregulation, Senator Penny Wong, today released the Australian Governments Consolidated Financial Statements for the year ended 30 June 2012.
The Consolidated Financial Statements (CFS) present the whole of government financial results, including all Australian Government controlled entities outside the General Government Sector (GGS), such as Australia Post and the Reserve Bank of Australia.
The CFS presents the same financial information as the Final Budget Outcome (FBO) in a different format.
The FBO is presented for the GGS and therefore not directly comparable to this whole of Government presentation in the CFS.
The Commonwealth Auditor General has issued an unqualified audit report on the 2011-12 CFS, the sixth consecutive time the CFS has been unqualified.
The CFS can be accessed at: http://www.finance.gov.au/publications/commonwealth-consolidated-financial-statements/index.html
For a summary of CFSkey pointsplease download the PDF version of this media release.