Financial Accountability Regulation 2019


Queensland Crest

Part 1 Preliminary

1Short title

This regulation may be cited as the Financial Accountability Regulation 2019.

2Commencement

This regulation commences on 1 September 2019.

Part 2 Accountable officers

3Accountable officers for particular entities—Act, s 65

For section 65(3) of the Act, a person mentioned in schedule 1, column 1 is the accountable officer for the entity mentioned opposite the person in schedule 1, column 2.

Part 3 Nomination as chief finance officer or head of internal audit

4Appropriate qualifications for nomination to be chief finance officer—Act, s 77

For section 77(5) of the Act, definition appropriately qualified, the qualifications prescribed are—
(a)a qualification as—
(i)a certified practising accountant conferred by CPA Australia Ltd ACN 008 392 452; or
(ii)a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or
(iii)a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or
(b)a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) as equivalent to a qualification mentioned in that paragraph.

5Appropriate qualifications for nomination to be head of internal audit—Act, s 78

For section 78(3) of the Act, definition appropriately qualified, the qualifications prescribed are—
(a)a qualification as a professional member of the Institute of Internal Auditors Australia ACN 001 797 557; or
(b)a qualification as—
(i)a certified practising accountant conferred by CPA Australia Ltd ACN 008 392 452; or
(ii)a chartered accountant conferred by Chartered Accountants Australia and New Zealand ARBN 084 642 571; or
(iii)a member of the Institute of Public Accountants Ltd ACN 004 130 643 who is entitled to use the letters ‘MIPA’ or ‘FIPA’; or
(c)a qualification from an overseas accounting body that is recognised by at least 2 of the entities mentioned in paragraph (a) or (b) as equivalent to a qualification mentioned in those paragraphs.

Part 4 Repeal

6Repeal

The Financial Accountability Regulation 2009, SL No. 81 is repealed.

Schedule 1 Accountable officers for particular entities

section 3

Column 1

Column 2

Accountable officer

Entity

The Queensland Auditor-General

Queensland Audit Office

The electoral commissioner

Electoral Commission of Queensland

The ombudsman

Office of the Ombudsman

The Public Trustee of Queensland

Public Trust Office

The chairperson of the Board of Management of the Public Safety Business Agency

Public Safety Business Agency