New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 41B

41B Nature of financial reports

(1) A statutory body’s financial report:

(a) shall be prepared in accordance with Australian Accounting Standards,

(c) is to include:

(va) a statement of all exemptions, omissions, modifications and variations made by the Treasurer under section 41BA which apply to the statutory body, and a summary of the reasons for them, and

(vi) such other information, if any, or particulars, if any, as may be prescribed,

(d) shall be accompanied by:

(i) a summary of the land owned or occupied by the statutory body classified according to the actual use of the land, and

(ii) where it is appropriate to value the land and the value can readily be established, a statement of the value of the land within each classification, or otherwise, a statement giving the reasons why it is inappropriate to value the land or why the value cannot readily be established,

(e) shall exhibit a true and fair view of the financial position and financial performance of the statutory body and, in the case of a statutory body being the Senate or Council of a university, of the financial position and financial performance of the university, and

(g) shall be prepared in such manner, if any, and such form, if any, as may be prescribed.