Northern Territory Consolidated Regulations Northern Territory Consolidated Regulations(1) For Part 5, Division 1 of the Act, the annual statement of accounts for tier 1 incorporated associations and tier 2 incorporated associations:
(a) must be prepared in the form of the financial report specified in Schedule 4; or
(b) must be prepared in accordance with applicable Australian Accounting Standards and contain all the information required by the financial report specified in Schedule 4.
(2) For Part 5, Division 1 of the Act, the annual statement of accounts for tier 3 incorporated associations must be prepared in accordance with applicable Australian Accounting Standards.