CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 (F2017L01311) - REG 23 Requirement for financial reports to be prepared in compliance with accounting standards
CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) REGULATIONS 2017 (F2017L01311) - REG 23
Requirement for financial reports to be prepared in compliance with accounting standardsFor the purposes of subsection 333-15(1) and paragraph 333-15(2)(e) of the Act, a financial report of an Aboriginal and Torres Strait Islander corporation must be prepared in compliance with the accounting standards:
(a) to the extent that the accounting standards are capable of applying to an Aboriginal and Torres Strait Islander corporation; and
(b) whether or not the corporation is, or would be, regarded as a reporting entity within the meaning of that term in the accounting standards.
Note: For the definition of accounting standard , see section 700-1 of the Act.