51Accounting records

51 Accounting records

A Government Business Enterprise must –

(a) keep such accounting records as correctly record and explain its transactions (including any transactions as trustee) and financial position; and

(b) keep those records in a manner that –

(i) allows true and fair accounts of the Government Business Enterprise to be prepared from time to time; and

(ii) allows its accounts to be conveniently and properly audited or reviewed; and

(iii) subject to the Treasurer's Instructions, complies with Australian Accounting Standards; and

(iv) complies with any relevant Treasurer's Instructions; and

(c) [Section 51 Amended by No. 42 of 2002, Sched. 1, Applied:27 Nov 2002] retain those records for a period of not less than 7 years after the completion of the transaction to which they relate or such other period as the Treasurer determines.