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18-04 OLG Financial Reporting Roadshows 2018

Date: Tuesday 20th February 2018
Category: Council Circular

Circular Details

Circular No 18-04 / 20 February 2018 / A582048

Previous Circular


Who should read this

General Managers / All council finance staff


Policy Team / 02 4428 4178 /

Action required

Information / Response to OLG

PDF Version of Cirucular

18-04 OLG Financial Reporting Roadshows 2018


Workshop dates & venues


What’s new or changing

  • The Office of Local Government (OLG) is conducting a series of information sessions in March and April 2018 on impending Accounting Standards and the auditing of financial statements.
  • There will also be an opportunity at the sessions to discuss accounting issues and provide input into OLG’s financial reporting policy and guidelines.
  • Details of the dates and locations for the information sessions are shown in Attachment A.


What this will mean for your council

  • All council staff involved in accounting practice and financial reporting are encouraged to attend.


Key points

  • The information sessions will be held at eight locations across NSW during March and April 2018, and are designed for council finance staff playing a role in accounting and financial reporting functions.
  • The sessions will include:
    • an overview of the three new accounting standards that will apply to financial statements in the near future:
      • AASB 15 Revenue from Contracts with Customers;
      •  AASB 1058 Income of Not-for-Profit entities
      • AASB 9 Financial Instruments; and
      • AASB 16 Leases.
    • 2016-17 auditing of financial statements (Audit Office observations and themes) and focus areas for 2018; and
    • discussion on accounting issues, policies and guidance.


Where to go for further information


Tim Hurst

Acting Chief Executive



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