Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 4   Auditor-General Act 1997 and related amendments

Part 1   Amendments

Auditor-General Act 1997

24   Sections 11, 12, 13 and 14

Repeal the sections, substitute:

11 Annual financial statements of Commonwealth entities, Commonwealth companies and subsidiaries

The Auditor-General’s functions include auditing the:

(a) annual financial statements of Commonwealth entities in accordance with the Public Governance, Performance and Accountability Act 2013; and

(b) annual financial statements of Commonwealth companies in accordance with that Act; and

(c) annual financial statements of subsidiaries of corporate Commonwealth entities and Commonwealth companies in accordance with that Act.

12 Annual consolidated financial statements

The Auditor-General’s functions include auditing the annual consolidated financial statements in accordance with the Public Governance, Performance and Accountability Act 2013.

14 Audit fees for annual financial statement audits

(1) A person or body (other than a non-corporate Commonwealth entity) whose annual financial statements are audited as mentioned in:

(a) section 11 of this Act; or

(b) subsection 30(3) of the Governance of Australian Government Superannuation Schemes Act 2011;

is liable to pay audit fees for the audit, based on a scale of fees determined by the Auditor-General.

(2) Fees are payable within 30 days after issue of a payment claim. Payment claims for instalments may be issued before the audit is completed.

(3) Unpaid fees:

(a) are a debt due to the Commonwealth; and

(b) may be recovered by the Auditor-General, on behalf of the Commonwealth, by action in a court of competent jurisdiction.

(4) In the annual report prepared by the Auditor-General and given to the Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period, the Auditor-General must include details of the basis on which the Auditor-General determined the audit fees that applied during the period.