Reserve Bank of Australia Annual Report – 1993 Financial Statements Independent Audit Report to the Reserve Bank Board

Image of the Auditor-General



I have audited the financial report of the Reserve Bank of Australia for the year ended 30 June 1993. The report comprises:

  1. balance sheet;
  2. profit and loss appropriation statement, and
  3. notes to and forming part of the financial statements.

The Bank's Board is responsible for the preparation and presentation of the financial report and the information contained therein. I have conducted an independent audit of the financial report in order to express an opinion on it to the Reserve Bank Board.

The audit has been conducted in accordance with Australian National Audit Office Auditing Standards, which incorporate the Australian Auditing Standards, to provide reasonable assurance as to whether the financial report is free of material misstatement. Audit procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial report, and the evaluation of accounting policies and significant accounting estimates. These procedures have been undertaken to form an opinion as to whether, in all material respects, the financial report is presented fairly in accordance with Australian accounting concepts and standards and statutory requirements so as to present a view which is consistent with my understanding of the Reserve Bank of Australia's financial position and the results of its operations and its cash flows.

The audit opinion expressed in this report has been formed on the above basis.

Audit Opinion

In accordance with sub section 81 (2) of the Reserve Bank Act 1959, I now report that the financial statements are in agreement with the accounts and records of the Bank, and in my opinion,

  1. the statements are based on proper accounts and records;
  2. the statements show fairly the financial operations for the year ended 30 June 1993 and the state of affairs of the Bank at that date, and
  3. the statements are in accordance with the Statements of Accounting Concepts and applicable Accounting Standards.
Signature of J C TAYLOR



3 August 1993