This document is part of the Serving Victoria: A guide for Public Sector CEOs resource.

Resource Description Lead agency Available at:
Audit Act 1994 An Act to provide for the conduct of efficient and effective financial and performance audits in the Victorian public sector, the examination of bodies that receive public grants, and the administration and audit of the Victorian Auditor-General’s Office. Department of Premier and Cabinet http://www.legislation.vic.gov.au
Audit (Public Bodies) Regulations 2005 Prescribes which persons and bodies are ‘public bodies’ for the purposes of the Audit Act. Department of Treasury and Finance http://www.legislation.vic.gov.au
Financial Management Act 1994 Provides for the financial administration and accountability of the public sector and for annual reporting to the parliament by departments and public sector bodies. Department of Treasury and Finance http://www.legislation.vic.gov.au
Financial Management Regulations 2004 Regulations made under section 59 of the Financial Management Act, covering the handling of unidentified and surplus monies, the expenditure of royal commissions and boards of inquiry, and the efficient and fair investigation of losses of and deficiencies in public money and other property of the State. Department of Treasury and Finance http://www.legislation.vic.gov.au
Financial Management (Amendment) Regulations 2006 Regulations made under section 59 of the Financial Management Act. Department of Treasury and Finance http://www.legislation.vic.gov.au
Standing Directions of the Minister of Finance The Standing Directions of the Minister for Finance form the basis of sound financial management for the state. The directions are designed to supplement the Financial Management Act 1994 by prescribing mandatory procedures that must be complied with by all Victorian public entities. Areas covered include governance and oversight,
structure and systems, policies and procedures, and reporting.
Department of Treasury and Finance http://www.treasury.vic.gov.au
Financial Management Compliance Framework This framework assists Victorian public sector entities to establish and maintain effective financial management to support the achievement of entities’ key objectives and goals. It also helps the Victorian Government monitor the standard of financial management in line with the Standing Directions of the Minister for Finance. Department of Treasury and Finance http://www.treasury.vic.gov.au
Financial Reporting Directions Ensures consistent application of accounting treatment across the Victorian public sector in compliance with Australian Accounting Standards Board standards, specifically in instances where those standards provide accounting treatment options. Also impose other government non-financial policy and disclosure requirements. Department of Treasury and Finance http://www.dtf.vic.gov.au
Borrowing and Investment Powers Act 1987 An Act to provide for borrowing and investment powers for certain statutory bodies. Department of Treasury and Finance http://www.legislation.vic.gov.au
Monetary Units Act 2004 An Act which allows fees and penalties to be fixed by reference to fee units or penalty units that can be indexed annually by an amount to be fixed by the Treasurer. The Act also amended various references to monetary amounts in older Acts, and (having regard to inflation) indexed certain fees that had remained in monetary amounts. Department of Treasury and Finance http://www.legislation.vic.gov.au
Victorian Government Risk Management Framework This framework brings together information on governance policies, accountabilities and roles and responsibilities for all those involved in risk management in the public sector. The framework also provides for a minimum risk management standard and an attestation by accountable officers in annual reports. Department of Treasury and Finance http://www.treasury.vic.gov.au
General Procurement Requirements Policies and guidelines which set minimum standards for procurement of non-construction goods and services in Victorian Government departments and some public entities. Victorian Government Purchasing Board http://www.vgpb.vic.gov.au
Victorian Managed Insurance Authority VMIA is a statutory authority which provides risk and insurance services to departments and public entities in order to minimise losses from adverse events.

http://www.vmia.vic.gov.au