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1.55am EST
01:55
The New South Wales auditor general has warned her unqualified audit of the state’s finances could be at risk after the secretary of transport told a public hearing he had not yet agreed to provide an extra $5.2bn to fund a controversial rail corporation.
A day after her scathing report accused the NSW Treasury of being “unnecessarily obstructive” during her audit of the government’s finances, auditor general Margaret Crawford told a parliamentary inquiry on Thursday that her unqualified audit would need to be “reaffirmed” after earlier evidence from the transport secretary, Rob Sharp.
At the centre of Crawford’s extraordinary report was the Transport Asset Holding Entity (Tahe), a corporation established by the NSW government to hold $40bn in NSW rail assets, in a move that had the effect of inflating the state’s budget by several billion dollars.
Crawford’s signoff on the state’s overall finances was delayed by three months last year as a result of what she labelled “significant accounting issues” with the body.
Her office eventually gave the government an unqualified audit on the state’s finances on Christmas Eve after the government agreed to inject a further $5.2bn into Tahe.
However, during evidence to the inquiry earlier on Thursday, Sharp suggested negotiations on the access fees paid to Tahe remained ongoing and that his department had not signed off on the agreement.
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Updated
at 1.59am EST
1.35am EST
01:35
Josh Frydenberg’s attempts to cripple the proxy advisers who advise superannuation funds on how to vote on issues including executive pay have been described as a “cluster fiasco” after the senate killed off the regulations introduced by the treasurer.
The regulations, which were introduced in December, had been in force for just three days when the senate disallowed them on Thursday.
The move was another blow for the government on a messy day in parliament where the government also shelved its contentious religious discrimination bills.
The superannuation regulations required proxy advisers to hand the companies they have researched their reports on the same day as they have gone to paying clients. They also prohibited clients from owning proxy advisers.
Critics said the rules robbed proxy advisers of their intellectual property and would have cost retirement savers money by forcing industry super funds, which have been a frequent target of Morrison government attacks, to set up their own individual research teams rather than use the services of the Australian Council of Superannuation Investors, where many are shareholders.
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Updated
at 1.39am EST
12.59am EST
00:59
Obviously Peter Van Onselen’s story has caused a ruckus in Canberra this afternoon.
We are still making calls, but I’m confident the discussion recounted in the story happened. I’m not sure all the details are correct (as in who said what, to whom), but the broad thrust is right. Fair to say someone is making trouble of the capital T variety.
11.27pm EST
23:27
SA reports seven deaths and 1,639 new cases; WA records 139 cases
Updated
at 11.34pm EST