166Financial records

#### 166 Financial records 166 Financial records > > (1) A corporation must cause proper accounts and records to be kept in relation to all its operations. > > > (2) A corporation must prepare financial statements for each financial year of the corporation. > > > (3) Section 7.6 of the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055) applies to financial statements required to be prepared under this section in the same way that it applies to annual GSF financial statements required to be prepared under that Act. > > > (4) The financial statements must be submitted for verification and certification to an auditor appointed by the corporation in the manner prescribed by the rules of the corporation. > > > (5) The regulations may provide for the qualifications for appointment as an auditor under this section. > > > (6) A member of a corporation or a board member of the corporation must not be appointed to audit the financial statements of the corporation. > > **s 166:** Subst 2010 No 133, Sch 2\[54\].