Western Australian Current Acts

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ASSOCIATIONS INCORPORATION ACT 2015 - SECT 72

72 .         Review or audit of financial reports

        (1)         A tier 2 association in respect of a financial year must ensure that its financial report for the year is reviewed in accordance with Divisions 5, 6 and 7.

        Penalty: a fine of $2 750.

        (2)         Subsection (1) does not apply if the tier 2 association is required under subsection (3) to have the financial report audited.

        (3)         A tier 2 association in respect of a financial year must ensure that its financial report for the year is audited in accordance with Divisions 5, 6 and 7 if —

            (a)         a majority of the members present at a general meeting of the association make a resolution to that effect; or

            (b)         the association is directed by the Commissioner to do so.

        Penalty: a fine of $2 750.



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