Financial and Performance Management Standard 2019
sec.61Existing instruments, structures and systems
Start here
Get a plain-English read of sec.61
Turn the raw legal text into a practical explanation grounded in Financial and Performance Management Standard 2019.
sec.61 Existing instruments, structures and systems
This section applies to any of the following established, developed or prepared under a repealed provision and in effect immediately before the commencement— an internal control structure; a strategic plan; an operational plan; a system; a financial management practice manual; an internal audit function; an internal audit charter; an audit plan. On the commencement, the structure, plan, system, manual, function or charter— continues in effect; and is taken to have been established, developed or prepared under the corresponding provision for the repealed provision under which it was established, developed or prepared. (sec.61-ssec.1) This section applies to any of the following established, developed or prepared under a repealed provision and in effect immediately before the commencement— an internal control structure; a strategic plan; an operational plan; a system; a financial management practice manual; an internal audit function; an internal audit charter; an audit plan. (sec.61-ssec.2) On the commencement, the structure, plan, system, manual, function or charter— continues in effect; and is taken to have been established, developed or prepared under the corresponding provision for the repealed provision under which it was established, developed or prepared.
- (a) an internal control structure;
- (b) a strategic plan;
- (c) an operational plan;
- (d) a system;
- (e) a financial management practice manual;
- (f) an internal audit function;
- (g) an internal audit charter;
- (h) an audit plan.
- (a) continues in effect; and
- (b) is taken to have been established, developed or prepared under the corresponding provision for the repealed provision under which it was established, developed or prepared.