But scope for improvement in financial reporting and for Local Government sector in-particular, to meet the challenge of earlier closure.
Continuing improvements are evident in the quality and timeliness of annual accounts, but there is scope for some bodies to improve their quality assurance procedures and annual reporting
There's a need to ensure they are securing value for money and developing a more strategic working relationship, says Auditor General.
A review of financial support provided by the Welsh Government to a start-up business, Kancoat Ltd, has found that the company owes the Welsh Government nearly £2.6 million in repayment of the financial support it has received.
While the timeliness of accounts preparation has improved, the number of qualified audit opinions has increased and failures in financial governance remain too high.
£254 million spent on early departure packages over nearly four years, but with potential savings over time of up to £305 million per year.
But an increasing number have needed to be amended for material errors and there is a need to critically appraise the use of reserves