Earlier quoted context omitted.
One main difference is that public companies are required by law to have independent auditors. Government departments are not. In Australia independent audits rely on the Australian National Audit Office, which is profoundly and deliberately underfunded because of its annoying habit of discovering embarrassing incompetence and wastefulness.
>One main difference is that public companies are required by law to have independent auditors. Also, companies can go broke. Compared to that sanction, independent auditors are a band-aid.
In public sector, the audit process is incredibly painful, and you're going to end up losing a career and pension over malfeasance. I've seen it happen a few times. Once you start operating outside the lines, you're likely to escalate and will get caught.
More offensive to me are the folks who understand the system intimately and waste time & treasure legally. I've seen cases where a government used a big govt contractor to install PCs -- at cost of $120/hr for two guys and a truck. Offensive? Yes. Illegal? No.