Audit Regulations (Amendment) 1991 No. 323

EXPLANATORY STATEMENT

STATUTORY RULES 1991 No. 323

Issued on the authority of the Minister for Finance

Audit Act 1901

Audit Regulations (Amendment)

Subsection 71(1) of the Audit Act 1901 (the Act) provides that the Governor-General may make regulations (not inconsistent with the provisions of the Act) for carrying out the provisions of the Act.

Section 70BA of the Act provides that the regulations may declare an authority, a body or a company in which the Commonwealth has a controlling interest, to be subject to the section. The effect of such a declaration is that, where the Auditor-General is required by the Audit Act or other legislation to submit a report on an authority, body or company, the Auditor-General may authorise an officer to sign that report on the Auditor-General's behalf and when the report is submitted, it shall be taken to have been submitted by the Auditor-General.

These regulations amend the Audit Regulations to substitute revised Schedules 2 and 3 which update the current lists of authorities, bodies and companies which are declared to be subject to section 70BA.

The declaration of these authorities, bodies and companies does not affect the Auditor-General's overall responsibility for the conduct of the audits undertaken. It merely permits the Auditor-General to authorise an officer to sign a report on his or her behalf, thus relieving the Auditor-General of some of the professional workload associated with that office. The Auditor-General would sign a report personally should circumstances arise which warrant him or her doing so.