33. Guide to this Part

This Part is about planning by, and performance and accountability of, Commonwealth entities.

Division 2 is about planning and budgeting. It requires the accountable authority of a Commonwealth entity to prepare a corporate plan, and budget estimates, for the entity.

Division 3 is about the performance of Commonwealth entities. It requires the accountable authority of a Commonwealth entity:

  • to cause records to be kept about the entity’s performance; and
  • to measure and assess the entity’s performance; and
  • to prepare annual performance statements about the entity’s performance for inclusion in the entity’s annual report.

Division 4 is about financial reporting and auditing for Commonwealth entities. It requires the accountable authority of a Commonwealth entity:

  • to cause accounts and records to be kept about the entity’s transactions and financial position; and
  • to prepare annual financial statements for the entity for inclusion in the entity’s annual report.

It also requires the Auditor-General to audit those annual financial statements.

Division 5 requires the accountable authority of a Commonwealth entity to ensure that the entity has an audit committee.

Division 6 requires the accountable authority of a Commonwealth entity to prepare annual reports for the entity.

Division 7 is about Australian Government financial reporting by the Finance Minister. It requires the Finance Minister to publish monthly financial reports and table annual consolidated statements in the Parliament. It also requires the Auditor-General to audit those annual consolidated statements.

Last updated: 13 January 2016