The financial framework underpins the appropriation, expenditure and use of money and resources within the Australian Government. It is an important feature of an accountable and transparent public sector and informs the daily work of Australian Government agencies, office holders and their employees.
The Australian Government's financial framework is established and supported by key financial management and accountability legislation.
The Financial Management and Accountability Act 1997 (FMA Act) and the Commonwealth Authorities and Companies Act 1997 (CAC Act) were repealed on 30 June 2014 and replaced by the Public Governance, Performance and Accountability Act 2013 (PGPA Act) from 1 July 2014. Some provisions of the FMA and CAC Acts, however, will remain in force during the transition period; for example performance reporting requirements for the 2013-14 financial year.
The PGPA Act sets out the financial management, accountability and audit obligations of agencies (including Departments) that are financially part of the Commonwealth (and form part of the General Government Sector), in particular:
For a PDF version of the Whole of Government Resource Management Framework
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