RMGs are guidance documents. The purpose of an RMG is to support PGPA Act entities and companies to meet the requirements of the PGPA framework. RMGs explain the legislation and policy in plain English. RMGs support accountable authorities and officials to understand the intent of the framework. RMGs are updated regularly to reflect changes in policy/requirements.
Audience
This guide supports accountable authorities and officials of non-corporate Commonwealth entities and corporate Commonwealth entities to develop and maintain an effective system of internal control.
Key points
Accountable authorities of Commonwealth entities have a duty, under section 16 of the Public Governance, Performance and Accountability Act 2013 (PGPA Act), to establish and maintain appropriate systems for risk oversight and management, and internal control, within their entity.
This guide:
- outlines the accountable authority’s duty under section 16 of the PGPA Act to establish and maintain an appropriate system of internal control for the entity to support compliance with finance law
- explains what internal controls are and why they are essential to effective risk management and good governance
- outlines that a system of internal control should be tailored to the entity’s purpose, size, operating environment and risk profile
- assists accountable authorities to establish reasonable, rather than absolute, assurance that the entity is operating effectively and achieving its objectives, and
- provides practical guidance to support the implementation and review of internal controls.
Resources
Related resources including links to relevant legislation, policies and guidance are located in the right-hand menu.
