Commonwealth legislation

Financial Management and Accountability (Financial Statements 2000-2001) Orders

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

5/10 complexity

These Orders prescribe the accounting and reporting rules agencies (departments and statutory bodies) must follow when preparing annual financial reports for the 2000–01 year under the Financial Management and Accountability Act 1997. By requiring a common format and professional accounting standards aligned with Commonwealth Authorities, they let the Finance Minister consolidate reports, improving transparency, comparability and a unified view of Commonwealth finances.

JSON API Accounting / audit standards

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Current sections

Direct links to the current provisions in Financial Management and Accountability (Financial Statements 2000-2001) Orders.

Financial Management and Accountability (Financial Statements 2000-2001) Orders

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Financial Management and Accountability (Financial Statements 2000–2001) Orders

I, JOHN FAHEY, Minister for Finance and Administration, make these Orders under subsection 63 (1) of the Financial Management and Accountability Act 1997.

Dated 24 May 2001

John Fahey

Minister for Finance and Administration

1 Name of Orders

These Orders are the Financial Management and Accountability (Financial Statements 2000–2001) Orders.

Note Other matters relating to Agencies are dealt with in other Orders made by the Minister under subsection 63 (1) of the Financial Management and Accountability Act 1997.

2 Commencement

These Orders commence on gazettal.

3 Financial statements for financial year 2000–2001

For subsection 49 (2) of the Financial Management and Accountability Act 1997, Schedule 1 sets out the requirements for the preparation of annual financial statements for the financial year ending on 30 June 2001.

Note Schedule 1 is identical to Schedule 1 to the Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders. The purpose of having identical requirements is to achieve uniformity in financial reporting across the Commonwealth public sector which will assist in the preparation of annual financial statements in relation to the Commonwealth by the Finance Minister under section 55 of the Financial Management and Accountability Act 1997. Accordingly, certain terms, requirements and references contained in Schedule 1 to these Orders apply to Commonwealth Authorities and not to Agencies while other terms, requirements and references apply to Agencies and not to Commonwealth Authorities.

Schedule 1 Annual financial statements

(section 3)

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Financial Management and Accountability (Financial Statements 2000-2001) Orders