Page 1303 - Week 04 - Thursday, 21 April 1994

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Madam Speaker, I would like to present the Governments response to Report Number 2 of the Standing Committee on Public Accounts, Review of AuditorGenerals Report Number 6, 1992.

This Government is committed to continuing the improvement of financial management and accountability that has occurred over the last several years. We recognise it is the duty of the Executive to ensure sound financial management practices are in place.

To this end, the Government is pleased to respond to the report of the Public Accounts Committee, noting the number of references to the continued improvement in financial management practices. While there is still some way to go, the improvement in financial management practices and accountability of government agencies has been extremely gratifying.

The Committee made a number of valuable observations in key areas; particularly Financial Management, Accountability and the recording of Assets. This Government has demonstrated its commitment to further improving financial management practices through the funding of a project to develop new financial management policies and practices and develop the specifications for a new financial management system to be introduced in the next four years.

Madam Speaker, the Governments response addresses those matters of concern to the Committee, and points to the continuing improvement of financial management practices in the Territory.

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