Commonwealth Consolidated Acts Commonwealth Consolidated ActsManner of preparing report
(1) The regulations may require a section 333 - 5 report to be prepared in the manner required by the regulations.
Manner of preparing financial report
(2) If a section 333 - 5 report is a financial report, regulations made for the purposes of subsection (1) of this section may do one or more of the following:
(a) require that the financial report, or a part of it, be audited;
(b) require that the auditor be:
(i) an individual auditor who has particular qualifications or experience; or
(ii) an audit firm that has a member or members who have particular qualifications or experience; or
(iii) an authorised audit company;
(c) require that a person may only participate in the conduct of the audit in a particular capacity if the person has the qualifications or experience specified in the regulations;
(d) require that the audit of the financial report, or a part of it, be conducted in accordance with the auditing standards;
(e) require that the financial report, or a part of it, must be prepared in compliance with the accounting standards;
(f) require that the corporation's directors make a declaration of the kind specified in the regulations in respect of the financial report;
(g) require that a declaration by the directors in relation to the financial report must only be made after each person who performs a particular function in relation to the corporation has given the directors a declaration of a kind specified in the regulations in respect of the financial report;
(h) require that specified officers of the corporation sign the financial report.
This subsection does not limit subsection (1).
Note: Paragraph (a)--Division 339 deals with the audit of a financial report.
Giving report to members
(3) If a section 333 - 5 report is not a financial report or a directors' report for a financial year, the regulations may:
(a) require the corporation to give a copy of the report to its members (whether generally or on request); and
(b) specify the time within which, and the manner in which, the report is to be given to the members.
Note: An Aboriginal and Torres Strait Islander corporation is required to provide copies of a financial report or a directors' report to members on request under Division 342.