38Requirement for authorities or bodies for non‑government schools to prepare and audit financial statements

38 Requirement for authorities or bodies for non‑government schools to prepare and audit financial statements

An approved authority, block grant authority or non‑government representative body for a non‑government school must: (a) prepare financial statements in accordance with the Australian Accounting Standards that relate to any money received by the authority or body in a year; and (b) have those statements audited in accordance with the Australian Auditing Standards and generally accepted auditing practices.