Finance 1985-86: The Treasurer's statement for the year ended 30 June 1986 and the Report of the Auditor-General
Overview
Section 46 of the Audit Act requires the Treasurer, not later than three months after the end of the financial year, to prepare a detailed statement of the receipts into, and expenditure from, the Consolidated Fund and the Trust Fund in the financial year and to transmit it to the Auditor-General. The Audit Act relates to the financial administration of moneys coming into the hands of the Government; the collection, management and expenditure of, and the subsequent accounting for, these moneys, public property and other property. It covers the audit of public accounts, including departmental accounts and the reporting to Parliament by the Auditor-General on the Treasurer's Statement. It will be noted that this year for the first time, that all amounts defined in the Treasurer's Statement are expressed in $'000. This change is one of the new initiatives introduced to improve the presentation of financial statements.