Financial reporting guidance for Commonwealth entities

Guidance for preparing financial statements for reporting periods ending on or after 1 July 2014


The PGPA (Financial Reporting) Rule 2015 (FRR) external link has replaced the former Finance Minister’s Orders for Financial Reporting with effect from 1 July 2014. The FRR has the force of law under the PGPA Act and sets out the minimum financial reporting requirements for all Commonwealth Reporting Entities in preparing their financial statements.

One of the main purposes of the FRR and the supporting Commonwealth Entities Financial Statements Guide (the Guide) is to ensure consistency of accounting policy choices across Commonwealth Reporting Entities where Australian Accounting Standards allow choices. Consistency is important to ensure comparability of Financial Reports across Entities and to facilitate the consolidation of individual Entity Financial Reports when preparing the Australian Government's Consolidated Financial Statements. The FRR and the Guide aim to enhance the usefulness of information presented in Financial Reports to Government and major external users. 

The Guide (incorporates the FRR)

Guidance for the recently published FRR, including a summary of changes and a list of exemptions will be published soon.

Legislative Instrument


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