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76 Queensland Art Gallery Board of Trustees Annual Report 2013–14
FINANCIAL SUMMARY
Financial Governance
The Gallery is properly managed in accordance with the
requirements of the
Financial Accountability Act 2009
,
the
Financial and Performance Management Standard 2009
,
the
Statutory Bodies Financial Arrangements Act 1982
and the
Queensland Art Gallery Act 1987
.
The Gallery has a well-developed risk management system
and an internal audit system, all under the supervision of
the Audit and Risk Management Committee. In addition,
the accounts of the Gallery are audited by the Queensland
Audit Office. The Gallery maintains a strong system of
internal controls and expenditures are minimised and provide
value for money. The risk management system under the
supervision of the Audit and Risk Management Committee
ensures that potential liabilities and risks are understood
and well controlled.
Assurances to this effect have been provided by Professor Susan
Street,
AO
, Chair, Queensland Art Gallery Board of Trustees,
and Chris Saines,
CNZM
, Director, Queensland Art Gallery |
Gallery of Modern Art, to the Queensland Audit Office.
1 The legal name of the Queensland Art Gallery | Gallery
of Modern Art is the Queensland Art Gallery Board of
Trustees. These financial statements include the financial
transactions of the Queensland Art Gallery | Gallery of
Modern Art Foundation Committee, previously known as
the Queensland Art Gallery Foundation.
2 The 2013–14 Queensland State Budget — Service Delivery
Statements — Queensland Art Gallery.