sec.12Financial management practice manuals

sec.12 Financial management practice manuals

A department’s accountable officer or a statutory body must prepare and maintain a financial management practice manual for use in the financial management of the department or statutory body. The financial management practice manual— must be prepared and maintained in accordance with a policy or procedure used by the department or statutory body to manage its resources under its resource management systems; and may be in the form of separate policies, guidelines and other relevant material in hard copy or electronic format; and may be in the form of processes that are built electronically into the resource management systems and must be followed by the department or statutory body. See also section 7 (5) . A person involved in the financial management of a department or statutory body must, subject to the Act or another law that applies to the financial management of the department or statutory body, comply with the financial management practice manual of the department or statutory body. If a Minister is the appropriate Minister for more than 1 statutory body— the appropriate Minister or a relevant entity for the statutory bodies may prepare and maintain a financial management practice manual (a standard manual ) for use in the financial management of the statutory bodies; and the standard manual applies in relation to the statutory bodies unless the appropriate Minister decides it is not appropriate for it to apply. In this section— relevant entity , for statutory bodies, means— the department administering the Act or Acts under which the statutory bodies were established; or a statutory body assisting the appropriate Minister for the statutory bodies in administering the Act or Acts under which the statutory bodies were established. (sec.12-ssec.1) A department’s accountable officer or a statutory body must prepare and maintain a financial management practice manual for use in the financial management of the department or statutory body. (sec.12-ssec.2) The financial management practice manual— must be prepared and maintained in accordance with a policy or procedure used by the department or statutory body to manage its resources under its resource management systems; and may be in the form of separate policies, guidelines and other relevant material in hard copy or electronic format; and may be in the form of processes that are built electronically into the resource management systems and must be followed by the department or statutory body. See also section 7 (5) . (sec.12-ssec.3) A person involved in the financial management of a department or statutory body must, subject to the Act or another law that applies to the financial management of the department or statutory body, comply with the financial management practice manual of the department or statutory body. (sec.12-ssec.4) If a Minister is the appropriate Minister for more than 1 statutory body— the appropriate Minister or a relevant entity for the statutory bodies may prepare and maintain a financial management practice manual (a standard manual ) for use in the financial management of the statutory bodies; and the standard manual applies in relation to the statutory bodies unless the appropriate Minister decides it is not appropriate for it to apply. (sec.12-ssec.5) In this section— relevant entity , for statutory bodies, means— the department administering the Act or Acts under which the statutory bodies were established; or a statutory body assisting the appropriate Minister for the statutory bodies in administering the Act or Acts under which the statutory bodies were established.