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Inquiry into financial reporting and equipment acquisition at the Department of Defence and Defence Materiel Organisation

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Terms of Reference

The Joint Committee of Public Accounts and Audit shall inquire into and report on progress in implementing systematic reforms in the areas of financial reporting and equipment acquisition at the Department of Defence and the Defence Materiel Organisation (DMO), as identified in ANAO financial and performance audits, the Defence Procurement Review 2003 (the Kinnaird Review) and the Senate Foreign Affairs, Defence and Trade References Committee’s 2003 Report on the Inquiry into Materiel Acquisition and Management in Defence, including the following:

• Progress in implementing Defence’s financial remediation plans, relative to international best practice in these areas, and recommend any further measures that can be adopted;
• Progress in implementing the Kinnaird Reforms, relative to international best practice in these areas, and recommend any further measures that can be adopted;
• Review Australia’s relative achievements in procurement and financial reform relative to international best practice in these areas of defence administration; and
• Assess progress in Defence’s adoption of international business accounting standards relative to international best practice in this area of defence administration.

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