New South Wales Consolidated Acts

WATER MANAGEMENT ACT 2000 - SECT 166

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 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.