Public Governance, Performance and Accountability Act 2013

CHAPTER 2 - COMMONWEALTH ENTITIES AND THE COMMONWEALTH  

PART 2-3 - PLANNING, PERFORMANCE AND ACCOUNTABILITY  

Division 7 - Australian Government financial reporting  

SECTION 48   ANNUAL CONSOLIDATED FINANCIAL STATEMENTS  

48(1)    
The Finance Minister must:

(a)    prepare annual consolidated financial statements as soon as practicable after the end of each financial year; and

(b)    give the statements to the Auditor-General as soon as practicable after they are prepared.

48(2)    
The annual consolidated financial statements must:

(a)    comply with the accounting standards and any other requirements prescribed by the rules; and

(b)    present fairly the consolidated financial position, financial performance and cash flows.

48(3)    
If the Finance Minister has not given the annual consolidated financial statements to the Auditor-General within 5 months after the end of the financial year, the Finance Minister must cause to be tabled in each House of the Parliament a statement of the reasons why the statements were not given to the Auditor-General within that period.