Financial and Performance Management Standard 2019
sec.17Other losses
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sec.17 Other losses
This section applies if a department’s accountable officer or a statutory body becomes aware of a material loss of the department’s or statutory body’s property, other than a loss in relation to which section 16 (1) applies. The accountable officer or statutory body must keep a record of the following details about the material loss— a description of the property, including its value; the reason for the loss; an action taken in relation to the loss, including, for example, action taken to obtain reimbursement; details of an approval for writing off the loss. (sec.17-ssec.1) This section applies if a department’s accountable officer or a statutory body becomes aware of a material loss of the department’s or statutory body’s property, other than a loss in relation to which section 16 (1) applies. (sec.17-ssec.2) The accountable officer or statutory body must keep a record of the following details about the material loss— a description of the property, including its value; the reason for the loss; an action taken in relation to the loss, including, for example, action taken to obtain reimbursement; details of an approval for writing off the loss.
- (a) a description of the property, including its value;
- (b) the reason for the loss;
- (c) an action taken in relation to the loss, including, for example, action taken to obtain reimbursement;
- (d) details of an approval for writing off the loss.