7Accounting records

7 Accounting records (1) A council and a local government subsidiary must keep, in electronic form, financial records that: (a) correctly record and explain: (i) its transactions (including transactions undertaken as trustee); and (ii) its financial position and performance; and (b) enable true and fair financial statements to be prepared. (2) The CEO of the council and the chief executive of the local government subsidiary must ensure that appropriate controls and procedures are implemented and maintained to ensure the integrity and security of the data files and programs.