Public Governance, Performance and Accountability Act 2013

CHAPTER 2 - COMMONWEALTH ENTITIES AND THE COMMONWEALTH  

PART 2-3 - PLANNING, PERFORMANCE AND ACCOUNTABILITY  

Division 4 - Financial reporting and auditing for Commonwealth entities  

SECTION 41   ACCOUNTS AND RECORDS FOR COMMONWEALTH ENTITIES  

41(1)    
The accountable authority of a Commonwealth entity must cause accounts and records to be kept that properly record and explain the entity ' s transactions and financial position.

41(2)    
The accountable authority must ensure that the accounts and records are kept in a way that:

(a)    complies with any requirements prescribed by the rules; and

(b)    enables the preparation of the annual financial statements required by sections 42 and 48 ; and

(c)    allows those financial statements to be conveniently and properly audited in accordance with this Act.

Note:

41(3)    
The Finance Minister and the responsible Minister are entitled to full and free access to the accounts and records kept under this section. However, those Ministers ' access is subject to any Commonwealth law that prohibits disclosure of particular information.