62Reports and financial records

62 Reports and financial records (1) Each race control body and race club must: (a) keep proper books of account and records in relation to its operations; and

Racing and Wagering Act 2024 33 (b) prepare a statement of account and balance sheet audited by a person qualified and suitable to perform the audit acceptable to the Commission. (2) Each race control body, other than the Commission, must give the Commission an annual report on its operations as soon as practicable after the end of the financial year of the race control body. (3) The annual report must include the race control body's audited statement of account and balance sheet in accordance with applicable Australian accounting standards. (4) The Commission may, at any time, require a race control body and race club to give the Commission a report on such matters as it thinks fit. (5) A race control body that receives a request under subsection (4) must give the report within the time specified by the Commission. Note for section 62 The Commission must report on its operations as a race control body in its annual report under section 27.