What does ACAG mean in COUNCIL

ACAG stands for Australasian Council of Auditors General.

The ACAG works to ensure compliance with policies and regulations related to public sector auditing across the countries of Australia, New Zealand and the Pacific. They focus on financial control and governance of public entities.

The ACAG is composed of nine members; each member representing their respective country or territory in the region. Members include representatives from New Zealand, Australia, Papua New Guinea, Solomon Islands, Tonga, Vanuatu, Fiji and Samoa.

The primary purpose of ACAG is to monitor and promote best practice in public sector audit within its member countries by raising awareness around current standards and issues affecting public sector audit processes. It also serves as a forum for communication among its members and other interested parties.

There are a variety of ways to get more involved in the work done by the ACAG such as attending meetings and conferences, providing advice or guidance on specific projects or initiatives, contributing to policy documents or writing reports/papers related to public sector audit topics. Additionally, there are many volunteering opportunities available at both regional and national levels that support ACAG's goals.

The Council meets approximately every three months - usually via video-conferencing - but may convene additional meetings if necessary. During these virtual meetings they discuss current topics related to financial reporting guidelines, risk management practices in public sectors, external audits conducted by local governments etc., aiming to develop relevant framework for their members to adhere to during their individual roles as auditors general.

Communication amongst its members helps facilitate exchange of knowledge about new developments in financial reporting guidelines as well as innovative approaches being taken across various countries in addressing common challenges around quality assurance procedures taken when conducting audits within their jurisdictions. Additionally it helps highlight deficiencies which need addressing both within an individual jurisdiction or across all member regions so they can collaborate on improvements together.

Yes, following each meeting held by council they will issue out a formal report outlining any agreements reached along with details around plans discussed or actions agreed upon during proceedings - these will be made publicly available via their website or disseminated directly to interested stakeholders where appropriate.