Australian Infrastructure Financial Management Manual (AIFMM)

Published 2015

Aligning Accounting Standards with Infrastructure Management

The companion publication to the IIMM on the financial management front is the new Second Edition of the former Australian Infrastructure Financial Management Guidelines (AIFMG) – now renamed Australian Infrastructure Financial Management Manual (AIFMM).

The AIFMM is an IPWEA project that has involved collaboration with the National Local Government Financial Management Forum. The AIFMM provide the practical “how to” tools for asset and financial management practitioners to report and manage infrastructure assets in a nationally consistent way, complying with Australian Accounting Standards.

The Manual is all about getting asset and financial professionals, all speaking a common language and taking a common approach. Financial management for long life infrastructure assets is about achieving the right balance between cost, risk and performance of assets in the provision of services required by the community. Whilst compliance with relevant Australian Accounting Standards is an accepted regulatory requirement, good infrastructure financial management goes beyond mere compliance.