27 March 2012
Commonwealth Financial Accountability Review Discussion Paper Released
The Commonwealth Financial Accountability Review (CFAR) Discussion Paper, Is Less More? Towards Better Commonwealth Performance has today been released by the Department of Finance and Deregulation.
CFAR is an important part of the Government’s Better Government agenda which is concerned with ensuring that there is an appropriate framework within which the government and the public sector can work effectively, irrespective of particular settings or policy priorities.
The agenda covers a range of activities to improve delivery of government policies and programs and upgrade the public management framework generally.
Releasing the Discussion Paper is a crucial step in updating the financial framework. Much of the thinking behind the Financial Management Act 1997 and Commonwealth Authorities and Companies Act 1997, which underpin the financial framework, is nearly 20 years old.
This is a great opportunity to address the needs of modern government, improve performance and accommodate future changes.
Interested parties are encouraged to consider and comment on the proposals outlined in the paper.
The Discussion Paper is available at www.cfar.finance.gov.au .