146Audit of accounts

146 Audit of accounts (1) In this section, accountant means: (a) a member of the Institute of Chartered Accountants in Australia who holds a current Certificate of Public Practice issued by the Institute; (b) a member of the CPA Australia who holds a current Public Practice Certificate in accordance with the by-laws of CPA Australia; (ba) a member of the Institute of Public Accountants ACN 004 130 643 who holds a current Certificate of Professional Practice issued by the Institute; (c) a person registered as an auditor under the Corporations Act 2001; or (d) in a particular case, a member of an accounting body referred to in paragraph (a) or (b) who: (i) does not hold the current certificate referred to in the paragraph; and

Gaming Machine Act 1995 123 (ii) is approved as an accountant by the Director. (2) A licensee shall, in respect of each of the licensee's licensed premises, at the licensee's own expense and not later than 3 months after the expiration of each financial year: (a) prepare, or cause to be prepared, a statement of income and expenditure, a statement of financial position and a statement of cash flow that also identifies receipts, payments and all accounts relating to gaming on the licensee's licensed premises during the year; and (b) have the accounts relating to such gaming and conduct of gaming audited by an accountant. (3) If a person ceases for any reason to be a licensee, the person shall, at the person's own expense and not later than one month after ceasing to be a licensee (or such further period as the Director may allow): (a) prepare, or cause to be prepared, a statement of income and expenditure, a statement of financial position and a statement of cash flow that also identifies receipts, payments and all accounts relating to gaming on the person's licensed premises from the day to which the gaming machine accounts were last audited under subsection (2)(b) to the day the person ceased to be a licensee or, if an audit has not been performed, for the period from the start of gaming to the day the person ceased to be a licensee; and (b) have the accounts relating to such gaming and conduct of gaming audited by an accountant. (6) If the licensee is a club it must include in the statement of receipts and payments prepared under subsection (2)(a) or (3)(a): (a) a statement detailing the number of members in each class of membership of the club as at the expiration of the financial year; (b) a statement detailing the club's contributions to the community, including the identity of recipients and the amounts dispersed; (c) a statutory declaration signed by the principal executive officer of the club declaring that the proceeds from the conduct of gaming were expended promoting the objectives of the club; and

Gaming Machine Act 1995 124 (d) such other matters as may be prescribed.