Public sector corporate governance disclosures: An examination of annual reporting practices in Queensland

Abstract

In the public sector, corporate governance is an expression which is yet to be explicitly defined. This paper examines the existing public sector literature in order to derive a set of broad principles of corporate governance in the public sector. These principles are then applied through a content analysis of corporate governance disclosures in a group of Government Owned Corporations (GOCs), State Government Departments, Local Governments and Statutory Bodies. The results indicate the set of principles derived are generally applicable to various forms of public entities. However, due to a lack of an established public sector corporate governance framework, the disclosure of corporate governance is piecemeal. Government Owned Corporations achieved better disclosure practices in most principles than other public sector bodies. The paper aims to stimulate debate on public sector corporate governance and provides a basis for a more extensive survey on corporate governance disclosures