New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 7.8

7.8 Financial reports concerning SDA accounts

(1) The responsible manager for each SDA account must--

(a) cause financial reports (
"SDA account financial reports" ) about the management of the account to be prepared in accordance with the Treasurer's directions, and

(b) give those reports, within the period required by the Treasurer's directions after they are prepared, to the Auditor-General for an audit or audit-related services.

Note--: Section 4.16 also requires the responsible manager for an SDA account (who is defined in that section) to keep certain records and other information concerning the operation of the account.
Section 34 of the Government Sector Audit Act 1983 provides for the preparation of audit reports by the Auditor-General for the purposes of this Act.

(2) Without limiting subsection (1), the Treasurer's directions--

(a) are to provide for the form and content of SDA account financial reports for any SDA accounts, and

(b) may exempt an SDA account (or SDA accounts of a kind) from the operation of this section.

(3) The Treasurer is to have regard to the prescribed reporting exemption criteria in determining whether to give a direction that an SDA account (or SDA accounts of a kind) should be exempted from the operation of this section.

(4) SDA account financial reports (including any report of the Auditor-General on them) may be included in the annual reporting information for a GSF agency if the responsible manager for the SDA account is a government officer of the agency.

(5) If SDA account financial reports are not included in the annual reporting information for a GSF agency, the administering Minister for the account to which the reports relate is to cause them (along with any report of the Auditor-General on them) to be tabled in each House of Parliament as soon as practicable (but no later than within 5 months or any other period prescribed by the regulations) after the end of the period to which the reports relate.

(6) In this section--

"administering Minister" , in relation to an SDA account, means the Minister who administers the account or the legislation under which the account is established or constituted.