17Accountable authorities are required to submit financial statements to Auditor-General

17 Accountable authorities are required to submit financial statements to Auditor-General

(1)  An accountable authority other than the Auditor-General, as soon as possible and within 45 days after the end of each financial year, is to prepare and forward to the Auditor-General a copy of the financial statements for that financial year which are complete in all material respects.

(2)  For the purposes of subsection (1) , the Auditor-General is to determine whether the financial statements are complete in all material respects.

(3)  The financial statements of the Tasmanian Audit Office are to be submitted by the Auditor-General to the independent auditor as soon as possible and within 45 days after the end of each financial year.

(4)  Unless otherwise required by any other written law, the financial statements referred to in subsections (1) and (3) are to be prepared in accordance with the accounting standards and other requirements issued by the Australian Accounting Standards Board.

(5)  An accountable authority who fails to comply with a requirement under subsection (1) is guilty of an offence and is liable on summary conviction to a fine not exceeding 20 penalty units.

(6)  In a prosecution for an offence under subsection (5) it is a defence if the person charged can show that at the relevant time the financial statements of the State entity or audited subsidiary of a State entity were not in the possession or custody of, or under the control of, that person, unless the lack of possession, custody or control arose from a wrongful act or omission on the part of the person.

(7)  For the purposes of this section –

accountable authority includes the Clerk of the House of Assembly and the Clerk of the Legislative Council;

Australian Accounting Standards Board means the body of that name continued in existence under the Australian Securities and Investments Commission Act 2001 of the Commonwealth.