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The Financial Management Standard 1997 (also known as the FMS'' is a Law of Australia, state law of the
Queensland Government
The Queensland Government is the democratic administrative authority of the Australian state of Queensland. The Government of Queensland, a parliamentary constitutional monarchy was formed in 1859 as prescribed in its Constitution, as amended f ...
empowered by the ''Financial Administration and Audit Act 1977 (Qld) Its primary purpose is to provide the policies and principles to be observed in financial management, including planning, performance management, internal control, and corporate management within Queensland Government.
This is achieved by stating the functions of each accountable officer and statutory body in relation to corporate management.
A key aspect of the FMS is its directives associated with management of
information and communications technology
Information and communications technology (ICT) is an extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications ( telephone lines and wireless signals) and comput ...
(ICT), included the requirement for detailed ICT planning to ensure appropriate acquisition processes and ongoing management.
Unlike the United States federal law known as the
Information Technology Management Reform Act The Information Technology Management Reform Act of 1996 is a United States federal law, designed to improve the way the federal government acquires, uses and disposes information technology (IT). It was passed as Division E of the National Defens ...
(also known as the Clinger-Cohen Act), the FMS contains explicit references to the use of Enterprise Architecture. In particular the FMS links the planning of ICT directly to the Government Enterprise Architecture.
Penalties, including imprisonment, exist for failure of accountable officers to comply with the requirements of the ''Financial Administration and Audit Act 1977 (Qld)'' and associated regulations and the FMS.