Description
Over the years, financial and administrative services within the State Government have gradually expanded and have necessitated a review of legislation and accounting procedures affecting those areas. Further, due to technological change, records which were manually processed are now processed mechanically or by electronic devices.
A review committee was formed in 1982 to undertake a review of the Audit Act, 1902. The Committee unaminously reported that the Audit Act should be replaced by completely new legislation that would bring arrangements for financial administration and audit up to date. The Audit Act had been in existence for over eighty years and the emphasis in Public Finance matters in 1902 was primarily on stewardship of public moneys. Modern financial management concentrates on accountability and control.
The Public Finance and Audit Act, 1983, which came into effect in 1984, is aimed at enhancing accountability and efficient use of public moneys. By virtue of the Public Sector Management Act, 1988, the Head of an Authority is responsible for the general conduct and efficient, effective and economical management of the Authority. There is also a responsibility under the Public Finance and Audit Act to ensure that an effective system of internal control is in operation.
Section 9 of the Act provides for Treasurer's Directions to be issued from time to time. These Directions, which comprise the bulk of this manual, cover accounting and related financial principles, practices and procedures to be observed by officers of authorities in the administration of the financial affairs of the State.
Attachments
Act
Public Finance & Audit Act 1983
Overview
Who needs to know and/or comply with this?
- Departments
- Executive agencies related to Departments
- Advisory Entities (including Boards and Committees)
- Separate agencies
- Statutory Authorities/Bodies
- Councils under the Local Government Act
Compliance
- Not Mandatory
AR Details
- Date Issued
- Jun 17, 2014
- Review Date
- Jun 17, 2024
- Replaces
-
- Replaced By
Contacts
- Contact
- Phone
- Publishing Entity
- The Treasury
- Issuing Entity
- The Treasury