Associations Incorporation Act 1991
71Accounting records
Start here
Get a plain-English read of 71
Turn the raw legal text into a practical explanation grounded in Associations Incorporation Act 1991.
71 Accounting records An incorporated association must— (a) keep accounting records that correctly record and explain the transactions (including any transactions as trustee) and the financial position of the association; and
(b) keep its accounting records in such a way that— (i) true and fair accounts of the association can be prepared from time to time; and (ii) a statement of the accounts of the association can conveniently and properly be reviewed or audited in accordance with this part; and (c) retain its accounting records for at least 7 years after the transactions to which they relate were completed.