sec.38Preparation of annual financial statements for departments— Act , s 62

sec.38 Preparation of annual financial statements for departments— Act , s 62

This section prescribes, for section 62 (1) of the Act , requirements for preparing annual financial statements for a department, other than final financial statements. For the requirements for preparing final financial statements for an abolished department, see section 44 . A department’s accountable officer must, for each financial year, prepare the department’s annual financial statements in accordance with the minimum reporting requirements stated in the financial reporting requirements document. The accountable officer and the chief finance officer for a department must certify on the annual financial statements whether, in their opinion— the prescribed requirements for establishing and maintaining the department’s resource management systems have been complied with in all material respects; and the statements present a true and fair view, in accordance with the prescribed accounting standards, of— the department’s transactions for the financial year; and the department’s financial position at the end of the financial year. A department’s accountable officer must, within the period stated in section 41 , give the annual financial statements to the authorised auditor for the department for audit. (sec.38-ssec.1) This section prescribes, for section 62 (1) of the Act , requirements for preparing annual financial statements for a department, other than final financial statements. For the requirements for preparing final financial statements for an abolished department, see section 44 . (sec.38-ssec.2) A department’s accountable officer must, for each financial year, prepare the department’s annual financial statements in accordance with the minimum reporting requirements stated in the financial reporting requirements document. (sec.38-ssec.3) The accountable officer and the chief finance officer for a department must certify on the annual financial statements whether, in their opinion— the prescribed requirements for establishing and maintaining the department’s resource management systems have been complied with in all material respects; and the statements present a true and fair view, in accordance with the prescribed accounting standards, of— the department’s transactions for the financial year; and the department’s financial position at the end of the financial year. (sec.38-ssec.4) A department’s accountable officer must, within the period stated in section 41 , give the annual financial statements to the authorised auditor for the department for audit.

• (a) the prescribed requirements for establishing and maintaining the department’s resource management systems have been complied with in all material respects; and
• (b) the statements present a true and fair view, in accordance with the prescribed accounting standards, of— (i) the department’s transactions for the financial year; and (ii) the department’s financial position at the end of the financial year.