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

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)