Subdiv 5

Subdivision 5—Financial matters, audit and annual report 39—Accounts and audit (1) The Board must keep proper accounting records in relation to its financial affairs, and must have annual statements of accounts prepared in respect of each financial year. (2) The accounts must be audited at least once in every year by an auditor approved by the Auditor‑General and appointed by the Board. (3) The Auditor‑General may at any time audit the accounts of the Board. 40—Annual report (1) The Board must, on or before 31 October in each year, deliver to the Minister a report on the administration of this Act and the work of the Board during the financial year ending on the preceding 30 June. (2) The report must— (a) include the information prescribed by the regulations in relation to the relevant financial year; and (b) incorporate the audited accounts of the Board for the relevant financial year. (3) The Minister must, within 12 sitting days after receiving a report under this section, have copies of the report laid before both Houses of Parliament.