Public Governance, Performance and Accountability Act 2013
As soon as practicable after receiving annual financial statements under section 42 for a Commonwealth entity, the Auditor-General must: (a) examine the statements and prepare an audit report; and (b) give the report to the entity ' s responsible Minister as soon as practicable after it is prepared.
43(2)
In the audit report, the Auditor-General must state whether, in the Auditor-General ' s opinion, the annual financial statements: (a) comply with the accounting standards and any other requirements prescribed by the rules; and (b) present fairly the entity ' s financial position, financial performance and cash flows.
If the Auditor-General is not of that opinion, the Auditor-General must state the reasons.
43(3)
If the Auditor-General is of the opinion that a failure of the annual financial statements to comply with: (a) the accounting standards; or (b) any other requirements prescribed by the rules;
has a quantifiable financial effect, then the Auditor-General must quantify that financial effect and state the amount, where practicable.
43(4)
A copy of the annual financial statements and the Auditor-General ' s report must be included in the Commonwealth entity ' s annual report that is tabled in the Parliament.
Note:
See section 46 for the annual report.
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