The content on this page and other Finance archive pages is provided to assist research and may contain references to activities or policies that have no current application. See the full archive disclaimer.
The Australian Government's financial framework is established and supported by key financial management and accountability legislation, which is comprised of:
The FMA Act sets out the financial management, accountability and audit obligations of agencies (including Departments) that are financially part of the Commonwealth (and form part of the General Government Sector), in particular:
The Act provides for the making of Regulations and Orders, which provide more detail about matters addressed in the Act. The Regulations provide for, amongst other things, the issuing of Commonwealth Procurement Rules, Commonwealth Grant Guidelines and Fraud Control Guidelines .
Government policy relating to various aspects of the FMA legislation and sound financial management more broadly, can be found in range of Finance Circulars.