costello's qld financial audit questioned, page-4

BOB WALKER: It makes a lot of projections about future levels of debt and capital expenditure and so forth, and doesn't justify any of this with tables of data. I mean they've admitted they didn't undertake any modelling. It looks as though their projections are prepared by a graphic designer drawing a line on a graph.


BOB WALKER: It's quite astonishing that claims have been made, for example, that Queensland had to borrow to support the budget when the audited statements of cash flows showed that the Queensland Government has recorded surpluses from its operating activities. Cash surpluses.


The Queensland Treasurer, Tim Nicholls, says it meets its terms of reference.

TIM NICHOLLS: What the independent commission audit report does is it highlights the problems facing the Queensland economy. Was it an audit in the sense that an auditor would go through and tick of every expense and every income item? No it's not, because we do that as a matter of practice with the Queensland Audit Office. And they put an audit report in to make sure that things are spent and accounted for properly.