Annual Report 2004-05

Chief Finance Officer Group

Overview

The role of the Chief Finance Officer Group is to deliver a financial strategy that enables Defence to achieve the results specified by the Government. The financial strategy includes a ten-year Defence Management and Financial Plan, in-year budget management and reporting of Defence's financial accounts.

The major functions of the Group are to:

• advise on key resourcing issues within the guidance provided by the Defence Committee;
• deliver a finance strategy to ensure it delivers the results specified by the Government, by providing financial advice and management to support Defence as a whole;
• assist the Secretary in exercising his statutory responsibilities and authority, particularly under the Public Service Act 1999 and the Financial Management and Accountability Act 1997; and
• provide independent financial analysis and review of capability and investment issues. The Group consists of:
• the Budgets and Financial Planning Division, providing a whole-of-Defence focus to the planning, management, monitoring and reporting of key deliverables, including Defence's outputs, to the Government;
• the Financial Services Division, delivering a range of financial services including the development and provision of financial management and accounting policies, and the management of the accounting business systems and treasury and tax management functions;
• the Financial Controls Framework Branch, managing the implementation of a comprehensive Financial Controls Framework across Defence to draw together, in a structured and integrated fashion, all of the components necessary to build a best practice financial management environment for Defence; and
• the Financial Statements Remediation Program Office, overseeing the Audit Remediation Plans and assisting groups in longer term activities to resolve adverse audit findings.