ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 92 Obligation to prepare financial statements
ASSOCIATIONS INCORPORATION REFORM ACT 2012 (NO. 20 OF 2012) - SECT 92
Obligation to prepare financial statements(1) As soon as practicable after the end of each financial year of the association, the committee of a tier one association must cause financial statements for that year to be prepared in accordance with subsection (2).
Penalty: 5 penalty units.
(2) The financial statements must—
(a) give a true and fair view of the financial position and performance of the association during and at the end of its last financial year; and
(b) deal with any matters prescribed by the regulations.