9Qualifications of persons preparing financial statements

9 Qualifications of persons preparing financial statements

For paragraph 52ZZZWF(2)(a) of the Act, the financial statements about a trust must be prepared by a person who: (a) is either or both of the following: (i) a member of CPA Australia, Chartered Accountants Australia and New Zealand, or Institute of Public Accountants; (ii) if a trustee corporation is a trustee of the trust – an employee of the trustee corporation engaged by the corporation as an accountant or financial planner; and (b) is not an immediate family member of any of the following: (i) the principal beneficiary of the trust; (ii) a residuary beneficiary of the trust; (iii) a trustee of the trust.