Overview of financial statements

Audited financial statements

The financial statements incorporate the agency financial statements for Customs and the schedules of administered items relating to items administered by Customs.

A comprehensive set of notes to the financial statements is provided as required by the Finance Minister's Orders including note 1, the summary of the significant accounting policies on which the financial statements have been prepared. Note 2 to the financial statements provides information on the adoption of Australian equivalents to international financial reporting standards which apply from the 2005–06 financial year.

The financial statements include a statement by the CEO and Chief Financial Officer that financial records have been properly maintained and that they give a true and fair view of the matters required by the Finance Minister's Orders. The independent audit report of the Auditor General on the financial statements has been included within the financial statements.