14.1 Acronyms and abbreviations
| Acronym/abbreviation | Title in full |
|---|---|
| AAI | Accountable Authority Instructions |
| AAO | Administrative Arrangements Order |
| AAS | Australian Accounting Standards as issued by the AASB |
| AASB | Australian Accounting Standards Board |
| ABS | Australian Bureau of Statistics |
| ACSC | Australian Cyber Security Centre |
| ANAO | Australian National Audit Office |
| APS | Australian Public Service |
| APSC | Australian Public Service Commission |
| ASA | Auditing standards as issued by the AUASB |
| AUASB | Auditing and Assurance Standards Board |
| BPG | Financial Statements Better Practice Guide |
| Budget, the | The Australian Government budget |
| CBMS | Central Budget Management System |
| CFO | Chief Financial Officer |
| CFS | Consolidated Financial Statements |
| Charter of Budget Honesty | Charter of Budget Honesty Act 1998 |
| Corporations Act | Corporations Act 2001 |
| Entity | This BPG uses ‘entities’ to mean Commonwealth entities and Commonwealth companies as defined by the Public Governance, Performance and Accountability Act 2013 (PGPA Act). |
| Fraud Rule | Section 10 of the PGPA Rule |
| ICT | Information and communication technology |
| IFRS | International Financial Reporting Standards |
| FBO | Final Budget Outcome |
| Finance Minister | The Minister for Finance |
| FMIS | Financial Management Information System |
| FRR | Public Governance, Performance and Accountability (Financial Reporting) Rule 2015 |
| GBE | Government Business Enterprise |
| GGS Monthly Financial Statements | The Australian Government general government sector Monthly Financial Statements |
| Australian GFS | Australian System of Government Finance Statistics Australia: Concepts, Sources and Methods 2015, issued by the Australian Bureau of Statistics |
| ISM | Australian Government Information Security Manual |
| JCPAA | Joint Committee of Public Accounts and Audit |
| MoG | Machinery of Government |
| PBS | Portfolio Budget Statements |
| Portable document format | |
| PGPA Act | Public Governance, Performance and Accountability Act 2013 |
| PGPA Rule | Public Governance, Performance and Accountability Rules 2014 |
| PPE | Property, plant and equipment |
| PRIMA | Primary Reporting and Information Management Aid |
| PSPF | Protective Security Policy Framework |
| RMG | Resource Management Guide |
| SRP | Supplementary Reporting Pack |
| UPF | Uniform Presentation Framework |
14.2 Index of BPG resources
| Resource name | Resource description | BPG Ref. |
|---|---|---|
| BPG Resources Map | This diagram sets out a suggested order and timing for the use of BPG resources. | 1.4.1 |
| Relevant legislation and standards | Details the main legislation, policies and guidelines relevant to the preparation of financial statements by public sector entities and a brief summary of each of these elements. | 2.4.2 |
| Example: Risk analysis for financial statements | This risk analysis process for financial statements can assist management to prioritise the resources allocated to the preparation of the financial statements. | 3.7.4 |
| Example: Risk framework for financial statements | This framework sets out the risk and assurance profile for the financial statements process for an entity. | 3.7.4 |
| Template: Lessons learned tracking sheet | This template assists in the tracking of lessons learned from previous years and implementing related proposed solutions. | 4.2.6 |
| Template: Financial statements schedule of activities, year-end project plan and high-level timetable | This template contains:
| 4.2.6 |
| Example: Internal consistency checks | This spreadsheet provides examples of the consistency checks that entities should consider including. | 4.7.4 |
| Example: Team and business area process guide | Example instructions for a team and business process. | 5.1.5 |
| Example: Materiality assessment paper | This paper is useful for documenting your entities decisions in regards to materiality. | 7.2.9 |
| Example: Risk assessment to bring items forward | This risk assessment demonstrates a risk that could be mitigated by inclusion in a hard or soft close. | 7.3.4 |
| Template: Adjustments schedule | This schedule allows an entity to keeps a record of all adjustments proposed/made and to enable the changes to be considered and actioned as a whole. | 7.5.3 |
| Template: Position Paper | This template provides a useful structure/guidance to assist in the development of an accounting position paper. | 7.7.2 |
| Checklist: Preparation and use of reporting packs | This checklist provides suggestions for instructions which may be contained in a reporting pack. | 7.8.1 |
| Template: Working Papers Cover Sheet and Lead Schedule | This template can be used to assist in providing a reference to all relevant documents that support each financial statements item or note. Also contains a template for lead schedules. | 9.3.2 |
| Example: Requirements for supporting documentation | The example documentation requirements outline the types of supporting evidence required for selected financial statements items. | 9.3.2 |
| Example: Form for business area certification | An example of a management sign-off. | 9.4.4 |
| Example: Financial statement assertions | An example of financial statement assertions, adapted from the Australian Auditing Standard ASA 315. | 9.4.4 |
| Checklist: CFO Assurance | A checklist considering a range of issues relating to the preparation of an entity’s financial statements and may assist the CFO in discharging his/her responsibilities. | 9.4.4 |
| Checklist: Financial statements team assurance processes for audit committee | This checklist is an example of what a Finance Area/CFO might provide to the Audit Committee to provide assurance in regards to the financial statements process. | 9.5.1 |
| Template: Chief Financial Officer's report | Template for the CFO’s report to the audit committee and accountable authority to provide assurance. | 9.6.2 |
| Template: Audit assistance package | Provides an example template that sets out details on an audit. | 10.2.5 |
| Template: Register of audit requests | Provides an example template for tracking audit requests. | 10.2.5 |
| Example: Audit protocols | Provides an example of a formal communication plan with the auditors. | 10.2.5 |
| Template: Register of audit issues | Provides an example template for tracking issues identified by both the entity and the auditor throughout the audit. | 10.2.5 |
| Template: Requesting advice from Finance | Template that sets out the key information to include in your request for advice from Finance. | 13.1.2 |
