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This is a Bill, not an Act. For current law, see the Acts databases.
South Australia
Public Finance and Audit (Certification of Financial
Statements) Amendment Bill 2007
A BILL FOR
An Act to amend the Public Finance and Audit
Act 1987.
Contents
Part 1—Preliminary
1 Short
title
2 Commencement
3 Amendment provisions
Part 2—Amendment of Public Finance and Audit
Act 1987
4 Amendment of section
4—Interpretation
5 Amendment of section 23—Delivery of
financial statements to Auditor-General by public authority
6 Amendment of
section 36—Auditor-General's annual report
The Parliament of South Australia enacts as
follows:
This Act may be cited as the Public Finance and Audit (Certification of
Financial Statements) Amendment Act 2007.
This Act will come into operation on a day to be fixed by
proclamation.
In this Act, a provision under a heading referring to the amendment of a
specified Act amends the Act so specified.
Part 2—Amendment
of Public Finance and Audit
Act 1987
4—Amendment of
section 4—Interpretation
Section 4(1), the definition of prescribed public
authority—delete the definition
5—Amendment of
section 23—Delivery of financial statements to Auditor-General by
public authority
Section 23(2)—delete subsection (2) and substitute:
(2) The financial statements must be accompanied by a certificate as to
compliance with the requirement that the statements—
(a) are in accordance with the accounts and records of the authority;
and
(b) comply with relevant Treasurer's instructions; and
(c) comply with relevant accounting standards; and
(d) present a true and fair view of the financial position of the
authority at the end of the financial year and the result of its operations and
cash flows for the financial year.
(2a) The certificate must be signed by—
(a) the Chief Executive Officer of the public authority; and
(b) the officer responsible for the financial administration of the public
authority; and
(c) if the public authority has a governing body comprised of a number of
persons—the person entitled to preside at meetings of the governing
body.
(2b) A person who intentionally or recklessly provides the Auditor-General
with a certificate that does not comply with subsection (2) is guilty of an
offence.
Maximum penalty: $5 000.
(2c) A certificate under subsection (2) must include a statement as
to the effectiveness of the internal controls employed by the authority for the
financial year over its financial reporting and its preparation of the financial
statements.
6—Amendment of
section 36—Auditor-General's annual report
Section 36(1)(a)(ii)—delete subparagraph (ii) and
substitute:
(ii) the financial statements of each public authority reflect the
financial position of the authority at the end of the preceding financial year
and the results of its operations and cash flows for that financial
year;