{"id":"qld:sl-2019-0146","name":"Financial Accountability Regulation 2019","slug":"financial-accountability-regulation-2019","collection":"regulation","jurisdiction":"qld","status":"in_force","isInForce":true,"actNumber":"146 of 2019","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":173991,"registerId":"qld-sl-2019-0146-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"pt.1","sectionType":"part","heading":"Preliminary","content":"# Preliminary","sortOrder":0},{"sectionNumber":"sec.1","sectionType":"section","heading":"Short title","content":"### sec.1 Short title\n\nThis regulation may be cited as the Financial Accountability Regulation 2019 .","sortOrder":1},{"sectionNumber":"sec.2","sectionType":"section","heading":"Commencement","content":"### sec.2 Commencement\n\nThis regulation commences on 1 September 2019.","sortOrder":2},{"sectionNumber":"pt.2","sectionType":"part","heading":"Accountable officers","content":"# Accountable officers","sortOrder":3},{"sectionNumber":"sec.3","sectionType":"section","heading":"Accountable officers for particular entities— Act , s 65","content":"### sec.3 Accountable officers for particular entities— Act , s 65\n\nFor section 65 (3) of the Act , a person mentioned in schedule 1 , column 1 is the accountable officer for the entity mentioned opposite the person in schedule 1 , column 2.","sortOrder":4},{"sectionNumber":"pt.3","sectionType":"part","heading":"Nomination as chief finance officer or head of internal audit","content":"# Nomination as chief finance officer or head of internal audit","sortOrder":5},{"sectionNumber":"sec.4","sectionType":"section","heading":"Appropriate qualifications for nomination to be chief finance officer— Act , s 77","content":"### sec.4 Appropriate qualifications for nomination to be chief finance officer— Act , s 77\n\nFor section 77 (5) of the Act , definition appropriately qualified , the qualifications prescribed are—\na qualification as—\na certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\na chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\na member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\na qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) as equivalent to a qualification mentioned in that paragraph.\n- (a) a qualification as— (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\n- (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\n- (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\n- (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\n- (b) a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) as equivalent to a qualification mentioned in that paragraph.\n- (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\n- (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\n- (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or","sortOrder":6},{"sectionNumber":"sec.5","sectionType":"section","heading":"Appropriate qualifications for nomination to be head of internal audit— Act , s 78","content":"### sec.5 Appropriate qualifications for nomination to be head of internal audit— Act , s 78\n\nFor section 78 (3) of the Act , definition appropriately qualified , the qualifications prescribed are—\na qualification as a professional member of the Institute of Internal Auditors Australia ACN 001 797 557; or\na qualification as—\na certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\na chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\na member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\na qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) or (b) as equivalent to a qualification mentioned in those paragraphs.\n- (a) a qualification as a professional member of the Institute of Internal Auditors Australia ACN 001 797 557; or\n- (b) a qualification as— (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\n- (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\n- (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\n- (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or\n- (c) a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) or (b) as equivalent to a qualification mentioned in those paragraphs.\n- (i) a certified practising accountant conferred by CPA Australia Ltd ACN \t008 392 452; or\n- (ii) a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or\n- (iii) a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or","sortOrder":7},{"sectionNumber":"pt.4","sectionType":"part","heading":"Repeal","content":"# Repeal","sortOrder":8},{"sectionNumber":"sec.6","sectionType":"section","heading":"Repeal","content":"### sec.6 Repeal\n\nThe Financial Accountability Regulation 2009 , SL No. 81 is repealed.","sortOrder":9}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"This instrument repeals the Financial Accountability Regulation 2009 (s 6) and replaces it with a narrower, updated framework: it formally designates accountable officers (s 3) and prescribes specific qualifying memberships or recognised overseas equivalents for chief finance officers and heads of internal audit (ss 4–5). The change shifts enforceable detail into named professional standards and schedule 1 listings, requiring entities to align nominations and credential checks to the new regulation."},"complexity_factors":["Narrow, prescriptive scope limited to accountable officers and qualification rules (ss 3–5).","Key operational details depend on schedule 1 for the list of accountable officers, requiring cross-checking (s 3).","Direct cross-references to the Financial Accountability Act provisions create dependency on the Act for effect and scope (s 3; ss 4–5 refer to Act ss 65, 77, 78).","Qualification routes are tied to named professional bodies, reducing interpretive discretion but requiring verification of membership status (ss 4–5).","Overseas-equivalence is allowed only if recognised by at least two of the named bodies, which may create practical verification ambiguity (ss 4–5).","Administrative burden is low and largely binary (meets the listed qualification or not), limiting bureaucratic decision-making (ss 4–5).","Repeals prior regulation, so implementation requires transitional administrative updates (s 6)."],"plain_english_summary":"This regulation, commencing 1 September 2019, names the accountable officers for listed entities, prescribes the professional qualifications required for chief finance officers and heads of internal audit, and repeals the 2009 regulation (ss 1–6). Agencies must nominate candidates who hold specified memberships (CPA, Chartered Accountants, IPA, or recognised overseas equivalents), so entities must verify credentials; professional bodies determine equivalence. Compliance costs are mainly credential verification and possible recruitment; legal discretion is limited because the qualifications are prescriptive."},"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This regulation maintains its original narrow scope. It was always intended to prescribe specific accountable officers and set qualification standards for CFO and head of internal audit positions. The 2019 version replaces the 2009 version without expanding into new areas of financial accountability."},"complexity_factors":["Very short document (6 sections total)","Minimal cross-referencing (only references to specific sections of the parent Act)","Straightforward lists of professional qualifications with no conditional logic or exceptions","No defined terms section - relies on external professional body designations","Simple structure: preliminary matters, two nomination rules, repeal of old regulation"],"plain_english_summary":"This regulation sets out the rules for who can hold key financial positions in Queensland government entities (the 'Act' referred to is the *Financial Accountability Act 2009*).\n\n**What it does:**\n- **Names specific people** as 'accountable officers' for particular government entities (Schedule 1 lists who is responsible for what)\n- **Sets qualification requirements** for two important roles:\n  - **Chief Finance Officer**: Must be a CPA, Chartered Accountant, member of the Institute of Public Accountants (MIPA/FIPA), or hold an equivalent overseas qualification recognised by at least two of these bodies\n  - **Head of Internal Audit**: Must be a professional member of the Institute of Internal Auditors Australia, OR have one of the accounting qualifications listed above, OR hold an equivalent overseas qualification\n\n**Who it affects:**\n- Queensland government departments and public sector entities\n- People applying for senior financial positions in the Queensland public service\n- The professional accounting bodies mentioned (CPA Australia, Chartered Accountants ANZ, etc.)\n\n**Why it matters:**\nThis ensures that people managing public money have proper professional qualifications. It replaces an older 2009 regulation and tightens up who can be trusted with government financial oversight."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The regulation appears to directly replace the Financial Accountability Regulation 2009 with updated provisions covering the same subject matter — accountable officers, CFO qualifications, and Head of Internal Audit qualifications. No evidence of scope expansion or contraction from original intent; it is a routine update and restatement of existing administrative requirements."},"complexity_factors":["Multiple cross-references to parent Act sections (ss. 65, 77, 78) requiring the reader to consult a separate piece of legislation for full context","Nested list structure for qualification criteria creates mild readability issues","Overseas qualification recognition rule requires interpretation of what 'recognised by at least 2 entities' means in practice","The substantive content (the schedule of accountable officers) is not included in the provided text, creating a gap in understanding the full effect","Technical professional body references (ACN/ARBN numbers) add surface-level complexity without substantive legal difficulty"],"plain_english_summary":"The Financial Accountability Regulation 2019 specifies who is responsible for financial management in Queensland government agencies and sets minimum professional qualifications for key finance roles. It names accountable officers and requires CFOs and Heads of Internal Audit to hold recognised accounting or internal audit credentials (including certain overseas equivalents). \n\nIt affects senior agency leaders, finance and audit candidates, and ultimately taxpayers by strengthening financial stewardship."}},"importantCases":[],"_links":{"self":"/api/acts/financial-accountability-regulation-2019","history":"/api/acts/financial-accountability-regulation-2019/history","analysis":"/api/acts/financial-accountability-regulation-2019/analysis","conflicts":"/api/acts/financial-accountability-regulation-2019/conflicts","importantCases":"/api/acts/financial-accountability-regulation-2019/important-cases","documents":"/api/acts/financial-accountability-regulation-2019/documents"}}