AUDIT ACT 1994 - SECT 3A Objectives

AUDIT ACT 1994 - SECT 3A

    (1)     The objectives of this Act are—

S. 3A(1)(a) amended by No. 12/2019 s. 6(1).

        (a)     to determine whether financial statements prepared in the Victorian public sector present fairly the financial position and financial results of operations of public bodies and the State;

S. 3A(1)(b) amended by No. 30/2016 s. 92(1), substituted by No. 12/2019 s. 6(2).

        (b)     to determine whether—

              (i)     public bodies are achieving their objectives effectively, economically and efficiently and in compliance with all relevant Acts;

              (ii)     Victorian public sector operations and activities are being performed effectively, economically and efficiently and in compliance with all relevant Acts;

              (iii)     financial benefits or property given by a public body to an associated entity or other entity, or property otherwise of an associated entity, are being used effectively, economically and efficiently for the particular purpose that financial benefit or property is given or otherwise used;

S. 3A(1)(c) substituted by No. 12/2019 s. 6(2).

        (c)     to determine whether there has been any wastage of public resources or any lack of probity or financial prudence in the management or application of public resources in the Victorian public sector;

S. 3A(1)(ca) inserted by No. 30/2016 s. 92(2), substituted by No. 12/2019 s. 6(2).

        (ca)     to ensure the Auditor-General has the necessary powers when conducting an audit or assurance review;

S. 3A(1)(d) amended by No. 12/2019 s. 6(3).

        (d)     to ensure that the Auditor-General is held accountable for performance as the Auditor-General and the performance of the Victorian Auditor-General's Office.

S. 3A(2) repealed by No. 30/2016 s. 92(3).

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S. 3B (Heading) amended by No. 12/2019 s. 7(1).

S. 3B inserted by No. 30/2016 s. 93.