Better Practice Guidelines

Management Discussion and Analysis

Statement of Performance

Financial Delegations

Chief Executive Financial Instructions

Internal Audit Framework

The Accounting Branch has developed a number of better practice guidelines for use by ACT Government entities. These guidelines have been developed from a review of contemporary best practice and are the most authoritative guidance available to entities on these topics.

Management Discussion and Analysis

To assist agencies with improving the content and format of their MD&A, two model MD&A's are attached to the guidelines, one for departments and the other for Territory authorities. The information contained in the model MD&A is for illustrative purposes only and is not representative of any ACT Government entity.

Departments and Territory authorities are required to prepare and include MD&A in their Annual Report, immediately prior to the audited financial report. The purpose of MD&A is to assist users of the financial report, including the Members of the ACT Legislative Assembly, to more completely understand the financial information presented.

MD&A Better Practice Guideline June 2007 - (78KB)

2006-07 Model MD&A for Departments - (107KB)

2006-07 Model MD&A for Territory Authorities - (49KB)

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Statement of Performance

The purpose of this “better practice” guideline is to provide assistance to agencies in the preparation of the annual Statement of Performance. This guideline applies to all ACT Government departments and Territory authorities.

This guideline reflects the amendments to the FMA Statement of Performance Scrutiny Guideline made in April 2008. These amendments related to the inclusion of strategic indicators in the Statement of Performance.

2007-08 Model Statement of Performance - (70KB)

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Financial Delegations

The purpose of the ‘Better Practice Guideline’ is to provide agencies with information regarding financial delegations. It discusses the sources of authority and key aspects of operation for financial delegations. The intention is not to cover all possible aspects of financial delegations, but rather to provide broad guidance regarding the management of financial delegations.

Financial Delegations - Better Practice Guideline - (99KB)

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Chief Executive Financial Instructions

Model Chief Executive Financial Instructions have been developed to support departments' and territory authorities' internal financial management framework. Chief Executive Financial Instructions are an integral control mechanism for Chief Executives to ensure compliance with their responsibilities under the FMA for the efficient and effective financial management of ACT Government entities.

Chief Executive Financial Instructions (CEFI) Chapters	Issue Date	WORD
Chapter 1.1 - Delegation of Authority	14 April 2003	164KB
Chapter 1.2 - Risk Management	14 April 2003	170KB
Chapter 1.3 - Budget Management and Control	14 April 2003	67KB
Chapter 1.4 -Reporting Responsibility	14 April 2003	165KB
Chapter 1.5 -Accounts and Records	14 April 2003	166KB
Chapter 1.6 - Audit Committee	23 Sept 2003	171KB
Chapter 1.7 - Integrity and Reporting	19 April 2004	242KB
Chapter 1.8 - Insurance and Indemnities	23 Dec 2003	179KB
Chapter 2.1 - Spending Authority	14 April 2003	163KB
Chapter 2.2 - Procurement of Goods and Services	23 Dec 2003	204KB
Chapter 2.3 - Payment of Accounts	14 April 2003	195KB
Chapter 2.4 - Travel and Cabcharge	14 April 2003	211KB
Chapter 2.5 - Official Hospitality	23 Sept 2003	165KB
Chapter 2.6 - Grant Administration	14 April 2003	173KB
Chapter 2.7 - Act of Grace Payments	14 April 2003	70KB
Chapter 2.8.1 - Engagement of Consultants	23 Dec 2003	179KB
Chapter 2.8.2 - Use of Contractors	23 Dec 2003	220KB
Chapter 2.9 - Credit Cards	23 Jan 2007	179KB
Chapter 3.1 - Cash Management	14 April 2003	165KB
Chapter 4.1 - Debt Management and Invoicing	14 April 2003	170KB
Chapter 5.1 - Accountable Forms	14 April 2003	168KB
Chapter 6.1 - Asset Management	14 April 2003	175KB
Chapter 7.1 - Goods and Services Tax	14 April 2003	165KB
Chapter 7.2 - Fringe Benefits Tax	14 April 2003	162KB
Chapter 8.1 - Use of ACTPS Motor Vehicles	23 Dec 2003	95KB
Chapter 9.1 - Salary Packaging	19 April 2004	97KB
CEFI Summary	14 April 2003	462KB
Example Agency Financial Delegations	14 April 2003	269KB
Glossary of Terms	14 April 2003	69KB

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Internal Audit Framework

An Internal Audit Framework has been developed to assist departments and territory authorities to develop their own framework. The framework provides guidance to departments and territory authorities on matters such as establishing internal audit committees, appropriate reporting structures for audit findings and what type of issues audit plans should cover.

Internal Audit Framework - (133KB)

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