Treasury Regulations (Amendment)

Overview

The Statutory Rules 1929, No. 31, specifically the Treasury Regulations under the Audit Act 1901-1926, were enacted to address the need for clarification and refinement in the administrative processes governing the Audit Act. This legislative instrument, introduced by the Federal Executive Council on the advice of the Governor-General, aimed to enhance the efficiency and accuracy of audits conducted by the Commonwealth. The regulation was made under the authority of the Governor-General, with H. J. Green serving as the Government Printer in Canberra. The policy objective behind this amendment was to ensure that the auditing process remains robust and responsive to the evolving requirements of financial oversight and accountability within the government sector. By amending Regulation 67 to include the phrase "or approved" in sub-clause (g), the regulation sought to streamline the approval process for certain expenditures and transactions, thereby facilitating smoother and more timely audits.

Scope and Application

The Treasury Regulations under the Audit Act 1901-1926 pertain to the governance and oversight of financial audits within the Commonwealth of Australia. This legislative instrument applies to all public officers, entities, and activities within the federal government, ensuring adherence to rigorous auditing standards and procedures. The regulations govern the conduct of audits, including the appointment of auditors, the scope of audits, and the reporting of findings. This regulatory framework extends across the entire Commonwealth, encompassing all federal government departments, agencies, and instrumentalities. Additionally, the regulations are not limited to the geographic boundaries of Australia, but also apply to any federal activities conducted overseas. The Act does not explicitly state exclusions, exemptions, or thresholds; however, it is understood that the applicability of these regulations can be extended or restricted through subordinate instruments, such as specific guidelines or additional regulations issued under the authority of the Audit Act 1901-1926. This allows for tailored adjustments to meet the evolving needs of federal financial oversight and accountability.

Key Provisions

The main operative sections of these Treasury Regulations under the Audit Act 1901-1926 involve amendments to Regulation 67. Specifically, sub-clause (g) of Regulation 67 is amended by inserting the words “, or approved,” between the words “made” and “by.” This means that certain documents or records which were previously only considered valid if they were “made by” a specific person or authority are now also considered valid if they are “approved” by such a person or authority. This change potentially broadens the scope of what constitutes an acceptable document under the Act. The amendments impose specific obligations on the entities and parties governed by these regulations. For instance, when these regulations refer to documents or records that must be “made by” or “approved” by authorised personnel, it is now necessary to ensure that any such documents or records are appropriately approved in addition to being created. This requirement aims to provide greater flexibility and ensure that the documentation requirements under the Audit Act are met without unnecessary rigidity. There are no explicit offences, penalties, or civil/criminal consequences mentioned for breach of these regulations within the text. However, it is reasonable to infer that any failure to comply with the documentation requirements as amended could lead to non-compliance with the Audit Act 1901-1926 itself. Such non-compliance could potentially result in legal action under the broader provisions of the Audit Act, including penalties or other consequences as specified therein. The specifics of these penalties would depend on the nature and severity of the non-compliance, as well as any relevant case law or further statutory provisions.