Queensland Consolidated Acts Queensland Consolidated Acts(1) The Treasurer may, in writing, exempt a department or statutory body from complying with a financial management standard (in whole or part).
(2) However, before giving the exemption, the Treasurer must consult with the auditor-general about the proposed exemption.
(3) The Treasurer may impose conditions on the exemption.
(4) If the exemption relates to a prescribed accounting standard, the department or statutory body must disclose the extent and financial implications of noncompliance with the standard in its general purpose financial statements.