National Consumer Credit Protection Act 2009
CHAPTER 2
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LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES
PART 2-5
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FINANCIAL RECORDS, TRUST ACCOUNTS AND AUDIT REPORTS
Division 2
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Financial records of licensees
SECTION 89
89
HOW FINANCIAL RECORDS ARE TO BE KEPT
The financial records must be kept in a way that:
(a) enables true and fair profit and loss statements, and balance sheets, of the business referred to in paragraph 88(1)(a) to be prepared from time to time; and
(b) allows those statements and balance sheets to be conveniently and properly audited in accordance with the auditing standards (if any) prescribed by regulations made under section 106 .
The financial records must be kept in a way that:
(a) enables true and fair profit and loss statements, and balance sheets, of the business referred to in paragraph 88(1)(a) to be prepared from time to time; and
(b) allows those statements and balance sheets to be conveniently and properly audited in accordance with the auditing standards (if any) prescribed by regulations made under section 106 .
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