Financial Accountability Regulation 2019 (QLD)

Financial Accountability Regulation 2019

Part 1    Preliminary

1   Short title

This regulation may be cited as the Financial Accountability Regulation 2019.

2   Commencement

This regulation commences on 1 September 2019.

Part 2    Accountable officers

3   Accountable officers for particular entities—Act, s 65

For section 65(3) of the Act, a person mentioned in schedule 1, column 1 is the accountable officer for the entity mentioned opposite the person in schedule 1, column 2.

Part 3    Nomination as chief finance officer or head of internal audit

4   Appropriate qualifications for nomination to be chief finance officer—Act, s 77

For section 77(5) of the Act, definition appropriately qualified, the qualifications prescribed are—

(a)a qualification as—

(i)a certified practising accountant conferred by CPA Australia Ltd ACN 008 392 452; or

(ii)a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or

(iii)a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or

(b)a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) as equivalent to a qualification mentioned in that paragraph.

5   Appropriate qualifications for nomination to be head of internal audit—Act, s 78

For section 78(3) of the Act, definition appropriately qualified, the qualifications prescribed are—

(a)a qualification as a professional member of the Institute of Internal Auditors Australia ACN 001 797 557; or

(b)a qualification as—

(i)a certified practising accountant conferred by CPA Australia Ltd ACN 008 392 452; or

(ii)a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or

(iii)a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or

(c)a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) or (b) as equivalent to a qualification mentioned in those paragraphs.

Part 4    Repeal

6   Repeal

The Financial Accountability Regulation 2009, SL No. 81 is repealed.

Schedule 1 Accountable officers for particular entities

section 3

Column 1	Column 2
Accountable officer	Entity
The Queensland Auditor-General	Queensland Audit Office
The electoral commissioner	Electoral Commission of Queensland
The ombudsman	Office of the Ombudsman
The Public Trustee of Queensland	Public Trust Office
The chairperson of the Board of Management of the Public Safety Business Agency	Public Safety Business Agency