New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 27A

27A Preparation and presentation of Budget Papers

(1) The Budget Papers are to be presented on a basis that covers the general government sector.

(2) The primary financial statements in the Budget Papers are to be prepared in accordance with Australian Accounting Standards and presented in a format that accords with Australian Accounting Standards.

(3) The Treasurer may determine that the standards referred to in subsection (2) should be departed from if the Treasurer is of the opinion that the departure is necessary in a particular case to present an accurate view of the financial position detailed in the Budget Papers.

(4) The Treasurer is to prepare a report on any such departure containing details of, and reasons for, the departure and the report is to be tabled in each House of Parliament with the Budget Papers.

(5) It is not necessary for the Budget Papers to be presented so as to include notes within the meaning of Australian Accounting Standards.

(6) In this section:
"primary financial statements" in the Budget Papers means the financial statements referred to in section 27AA (2) (e).