Financial Accountability Handbook
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The Financial Accountability Handbook (the Handbook) is designed to assist accountable officers and statutory bodies discharge their responsibilities under the new Financial Accountability Act (the Act), the Financial and Performance Management Standard (the Standard) and the Financial Accountability Regulation. The Handbook replaces the Cost Effective Internal Control Guidelines.
The Handbook represents guidance only, and it is expected that departments and statutory bodies should adopt processes which reflect each individual agency’s circumstances and operational characteristics. Information Sheets will be released progressively as they are completed.
The sheets will initially be released as drafts for consultation and then as a final version. All interested parties are invited to review the draft Information Sheets and provide comment by their due dates to fmbregistrations@treasury.qld.gov.au. All comments and feedback are valued and appreciated.
Topic papers and feedback relating to the review of the Cost Effective Internal Control Guidelines can be accessed via the Request for Comment on Revised Cost Effective Internal Control Guidelines page.
Volumes
- Volume 1: Introduction
Volume 1 discusses the principles underlying the Act and its subordinate legislation, its general purpose and scope, the framework within which it has been developed and its application to the various forms of government entities. - Volume 2: Governance
Volume 2 discusses the application of fundamental governance requirements, including the implementation and review of systems of internal controls, agency management, internal and external audit and risk management. - Volume 3: Designing internal controls
Volume 3 provides guidance to agencies on the fundamental elements supporting the design and implementation of internal control systems. - Volume 4: Monitoring/assessment
Volume 4 discusses the range of monitoring and assessment processes, tools and reports that should be employed in assessing an agency’s performance in the delivery of its services, the effectiveness of outsourcing arrangements, machinery-of-Government changes and consideration of internal/external audit findings. - Volume 5: Reporting systems
Volume 5 details reporting obligations under the Act and its subordinate legislation, the roles of internal and external audit functions in the reporting process and guidance on the development and production of effective management reports for use by agency management.
Last reviewed 29 June 2009
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