The Federal Government has extended the deadline for recommendations from the Commission of Audit, after the massive task meant the board came up short this month.

The Commission has been formed to sweep through government departments and root out sources of waste.

Early indications suggest regulatory processes will be targeted to allow business to operate with fewer checks. There are also reports that thousands of public sector workers face the sack as the Commission seeks to squeeze the most from every taxpayer dollar.

The Government originally asked the group to deliver its recommendations by January 31st 2014. The Commission recently promised the Government that it had made considerable progress, but now requires a short extension.

“This Commission is the most comprehensive Government review of spending in a generation,” Federal Treasurer Joe Hockey said in a statement overnight.

“It is an essential step in getting the Budget back under control and ensuring the Government lives within its means.”

Official word from the Government says it granted the extension for the upcoming reports to be as comprehensive as possible.

The Commission's Terms of Reference are available on the National Commission of Audit's website.