3Definitions

3 Definitions

In this Act—

approved form means in the form approved by the Registrar;

association means an association, society, club, institution or body formed or carried on for any lawful purpose and that has not fewer than 5 members;

Auditing Standards on Review Engagements means the standards issued by the Auditing and Assurance Standards Board for the purposes of a review of a financial report or complete set of financial statements as in force for the time being and including any modifications prescribed by the regulations;

Australian Accounting Standards means the standards issued by the Australian Accounting Standards Board for the purposes of the preparation of financial reports as in force for the time being and including any modifications prescribed by the regulations;

Australian Auditing Standards means the standards issued by the Auditing and Assurance Standards Board for the purposes of the preparation of financial reports as in force for the time being and including any modifications prescribed by the regulations;

committee, of an association, means the committee of, or other body having management of, the association;

S. 3 def. of Council amended by No. 9/2020 s. 390(Sch. 1 item 5).

Council has the same meaning as it has in section 3(1) of the Local Government Act 2020;

CPA Australia means CPA Australia ACN 008 392 452;

financial records include—

(a) invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry;

(b) documents and records that record the entries referred to in paragraph (a);

(c) working papers and other documents that are necessary to explain the methods and calculations by which the financial statements are prepared;

financial year, of an incorporated association, means—

(a) a period of 12 months, or any other period (whether longer or shorter than 12 months) not exceeding 18 months as the association resolves, commencing on the date of incorporation of the association; and

(b) each period of 12 months, or any other period (whether longer or shorter than 12 months) not exceeding 18 months as the association resolves, commencing at the expiration of the previous financial year of the association;