sec.177Audit of monitoring operations

### sec.177 Audit of monitoring operations As soon as practicable after the end of a financial year, a licensed monitoring operator must, at the operator’s own expense, cause the operator’s books, accounts and financial statements for the operator’s monitoring operations for the financial year to be audited by a registered company auditor approved by the commissioner. Maximum penalty—200 penalty units. If a licensed monitoring operator ceases to be a licensed monitoring operator, the person (the former operator ) must, within the required time, at the former operator’s own expense, take the appropriate audit action. Maximum penalty—200 penalty units. The appropriate audit action for subsection (2) is for the former operator to cause the former operator’s books, accounts and financial statements for the former operator’s monitoring operations for the operating period to be audited by a registered company auditor approved by the commissioner. The required time for the former operator to take the appropriate audit action is— the period ending 1 month after the former operator ceases to be a licensed monitoring operator; or if the commissioner extends, or further extends, the period for the former operator to take the action, by written notice given to the former operator in the period or extended period—the period as extended. In this section— operating period , for a former operator, means— if an audit for the former operator’s monitoring operations has been done for subsection (1) —the period— starting on the day immediately after the end of the period to which the audit, or last audit, related; and ending on the day the former operator ceased to be a licensed monitoring operator; or if paragraph (a) does not apply—the period starting on the day the former operator’s monitoring operations started and ending on the day the former operator ceased to be a licensed monitoring operator. s 177 ins 1999 No. 8 s 51 amd 1999 No. 77 s 67 ; 2012 No. 25 s 109 (1) (sec.177-ssec.1) As soon as practicable after the end of a financial year, a licensed monitoring operator must, at the operator’s own expense, cause the operator’s books, accounts and financial statements for the operator’s monitoring operations for the financial year to be audited by a registered company auditor approved by the commissioner. Maximum penalty—200 penalty units. (sec.177-ssec.2) If a licensed monitoring operator ceases to be a licensed monitoring operator, the person (the former operator ) must, within the required time, at the former operator’s own expense, take the appropriate audit action. Maximum penalty—200 penalty units. (sec.177-ssec.3) The appropriate audit action for subsection (2) is for the former operator to cause the former operator’s books, accounts and financial statements for the former operator’s monitoring operations for the operating period to be audited by a registered company auditor approved by the commissioner. (sec.177-ssec.4) The required time for the former operator to take the appropriate audit action is— the period ending 1 month after the former operator ceases to be a licensed monitoring operator; or if the commissioner extends, or further extends, the period for the former operator to take the action, by written notice given to the former operator in the period or extended period—the period as extended. (sec.177-ssec.5) In this section— operating period , for a former operator, means— if an audit for the former operator’s monitoring operations has been done for subsection (1) —the period— starting on the day immediately after the end of the period to which the audit, or last audit, related; and ending on the day the former operator ceased to be a licensed monitoring operator; or if paragraph (a) does not apply—the period starting on the day the former operator’s monitoring operations started and ending on the day the former operator ceased to be a licensed monitoring operator. - (a) the period ending 1 month after the former operator ceases to be a licensed monitoring operator; or - (b) if the commissioner extends, or further extends, the period for the former operator to take the action, by written notice given to the former operator in the period or extended period—the period as extended. - (a) if an audit for the former operator’s monitoring operations has been done for subsection (1) —the period— (i) starting on the day immediately after the end of the period to which the audit, or last audit, related; and (ii) ending on the day the former operator ceased to be a licensed monitoring operator; or - (i) starting on the day immediately after the end of the period to which the audit, or last audit, related; and - (ii) ending on the day the former operator ceased to be a licensed monitoring operator; or - (b) if paragraph (a) does not apply—the period starting on the day the former operator’s monitoring operations started and ending on the day the former operator ceased to be a licensed monitoring operator. - (i) starting on the day immediately after the end of the period to which the audit, or last audit, related; and - (ii) ending on the day the former operator ceased to be a licensed monitoring operator; or