Terms of Reference

The Public Accounts and Estimates Committee will inquire into Victoria’s public finance practices and legislation and in particular will investigate:

a) Modernisation of the Victorian public finance system based on world’s best practice;

b) New and flexible mechanisms for financial administration and reporting that reflect the changing nature of the Victorian economy and society;

c) Simpler and more effective ways of public financial reporting;

d) Recent developments in democratic systems including Westminster jurisdictions on government financial and performance management reporting and related matters to the Parliament; and

e) Possible future changes to the legislative framework for financial administration and reporting in Victoria.

The Committee expects to present the findings of its investigations to Parliament by the end of 2008.