NSW Audit Office - Financial Reports – 2001 - Volume 7 – Compliance Review of NSW Government Superannuation

Auditor-General’s Report to Parliament 2001 Volume Seven 7Compliance Review ofNSW Government Superannuation SchemesThis is the second part of a review of this topic.The first part looked at the role of individual government agencies in maintaining relevant records,providing information to the Superannuation Administration Corporation (SAC) and forwardingcontributions to SAC. The findings were included in Volume Two of the Auditor-General’s 2001Report to Parliament. A summary of those findings is contained under Background.The second part of the review looked at the way SAC processed this information.KEY FINDINGWe found that SAC complied with its processing and reporting requirements.RECOMMENDATIONSThe Trustee and SAC should continue to educate New South Wales government agencies about theirsuperannuation obligations.More agencies should provide information to SAC electronically.DETAILED FINDINGSWe reviewed SAC's processing and reporting by checking:¤ the accuracy and processing time of contributions and salary information¤ the accuracy of member entitlement statements.We found that SAC:¤ processes member and employer records accurately¤ validates transactions and allocates them to an appropriate account¤ acts appropriately when it cannot process transactions¤ processes transactions promptly¤ prepares accurate member statements.Although SAC encourages agencies to provide ...