The fifth iteration of the university's strategic plan, Blueprint 5, released in September 2016, provides the planning framework for 2017. The fourth iteration of the plan, titled Blueprint 4, provided the planning framework for the university in 2016. QUT researchers won three of the four categories: Ph.D. Mark Adams (Postdoctoral Researcher Award), Ph.D. Makrina Totsika (Senior Researcher Award) and Professor Louise Cullen (Clinical Researcher Award).
In the January 2016 edition of the World Ranking of Institutional Repositories, QUT was ranked highest. In the interest of the health and well-being of students, staff and visitors to the university, all QUT campuses and dispersed sites. The annual financial report has been authorized by the University Council for issue under the Queensland University of Technology Certificate.
The University designates certain derivatives as either: hedging the fair value of recognized assets or liabilities or a fixed obligation (fair value hedge); or hedging highly probable expected transactions (cash flow hedging). Fair value measurement of non-financial assets is based on the highest and best use of the asset. Increases in the accounting value as a result of revaluation of the art collection are recognized in the revaluation reserve in other comprehensive income.
Any difference between the proceeds (minus transaction costs) and the redemption amount is recognized in the income statement over the loan period using the effective interest method. The DVC, Corporate Programs and Partnerships are accountable to the VC for leading the growth of the university's corporate education. Administrative Services, Secretary to QUT Council and the University's Chief Administrative Officer, responsible to the VC for the administration of the University.
The impact on the listed assets and liabilities will be largely proportional to the scope of the University's leasing activity. Details of the university's exposure to changes in interest rates for interest-bearing liabilities are set out in financial risk management (see note 31). Details of the fair value of the University's interest-bearing liabilities are provided in fair value measurement (see Note 32).
Fair Value Measurements 2016
Fair Value Measurements 2015 Financial Assets
Fair Value Measurements 2015 Financial Liabilities
INDEPENDENT AUDITOR’S REPORT To the Council of the Queensland University of Technology
Opinion
Basis of Opinion
Responsibilities of the Council for the Financial Report
REPORT OF THE INDEPENDENT AUDITOR To the Council of the Queensland University of Technology To the Council of the Queensland University of Technology. I have audited the financial statements of the Queensland University of Technology, which comprise the statements of financial position as at 31 December 2016, statements of profit or loss, statements of comprehensive income, statements of changes in equity and statements of cash flows for the year then ended, notes to the financial statements, including significant accounting policies and other explanatory information, as well as a certificate from the chancellor, vice-chancellor and executive director for finance and resource planning - chief financial officer. In my opinion, the attached financial report complies with the prescribed requirements of the Financial Responsibility Act 2009 and section 60 of the Australian Charities and Not-for-Profits Commission Act 2012, including: a) giving a true and fair view of the financial position of the entity as at 31 December 2016 and its financial performance and cash flows for the year then ended and.
I conducted the audit in accordance with the Auditor-General of Queensland Auditing Standards, which incorporate the Australian Auditing Standards. My responsibilities under these standards are further described in the Auditor's responsibilities for auditing the financial report section of my report. I am independent of the company in accordance with the Auditor-General Act 2009, the Australian Charities and Not-for-profits Commission Act 2012 (ACNC Act) and the ethical requirements of the Accounting Professional and Ethical Standards Board APES 110 Code of Ethics for professional accountants (the Code ) relevant to my audit of the financial report in Australia.
The Council is responsible for preparing financial reporting that gives a true and fair view in accordance with the prescribed requirements of the Financial Accountability Act 2009 and its subordinate legislation, the Financial and Performance Management Standard 2009. These prescribed requirements include, among others, the Australian Accounting Standards and taking into account the minimum reporting requirements contained in the Financial Reporting Requirements for Queensland Government Agencies. The Board is also responsible for preparing the financial report that gives a true and fair view in accordance with the ACNC Act.
The Board's responsibilities also include such internal control as the Board deems necessary to enable the preparation of the financial report that presents a true and fair view and is free from material misstatement, whether due to fraud or error. In preparing the financial report, the board is responsible for assessing the company's ability to continue as a going concern, disclosing, where relevant, going concern matters and applying the going concern principle, unless management either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so. AC Companion of the Order of Australia AFR Australian Financial Review AICD Australian Institute of Company Directors.
AM Member of the Order of Australia AO Officer of the Order of Australia APA Australian Publishers Association APS Australian Psychological Society ARC Australian Research Council ARMC Audit and Risk Management Committee. QUT Queensland University of Technology SAGE Science in Australia Gender Equality SCAD Career Development Session. Other members include the University of Technology Sydney, RMIT University, the University of South Australia and Curtin University.
