This Part is about planning by, and performance and accountability of, Commonwealth entities.

Division 2 is about planning and budgeting. It requires the accountable authority of a Commonwealth entity to prepare a corporate plan, and budget estimates, for the entity.

Division 3 is about the performance of Commonwealth entities. It requires the accountable authority of a Commonwealth entity:

•       to cause records to be kept about the entity's performance; and

•       to measure and assess the entity's performance; and

•       to prepare annual performance statements about the entity's performance for inclusion in the entity's annual report.

Division 4 is about financial reporting and auditing for Commonwealth entities. It requires the accountable authority of a Commonwealth entity:

•       to cause accounts and records to be kept about the entity's transactions and financial position; and

•       to prepare annual financial statements for the entity for inclusion in the entity's annual report.

It also requires the Auditor-General to audit those annual financial statements.

Division 5 requires the accountable authority of a Commonwealth entity to ensure that the entity has an audit committee.

Division 6 requires the accountable authority of a Commonwealth entity to prepare annual reports for the entity.

Division 7 is about whole-of-government reporting by the Finance Minister. It requires the Finance Minister to publish monthly financial reports and table annual consolidated statements in the Parliament. It also requires the Auditor-General to audit those annual consolidated statements.