| Abstract: | Abstract: Profit-based financial measures have been given prominence in the present financial accountability and control systems of public sector utilities in Australia. As a result, periodic evaluation of financial accountability and managerial performance suffers from a lack of objective-orientation. Assessing the financial accountability and controlling the activities of public utilities properly requires information consistent with their operational environment. Neither clear financial policies and targets, nor a set of environment-specific performance measures have been outlined by the government. The paper proposes that, in addition to profit measures, consideration should also be given to non-profit measures if an improvement is really desired in the monitoring of managerial performance and in accountability of those utilities which operate in virtual monopoly or near-monopoly situations. |
