The accounts of the Special Fund must be checked every year by a qualified auditor. You need to know that a qualified auditor is someone who is appointed by the Management Committee. To be a qualified auditor, a person must meet the requirements set out in section 35 of the Financial Reporting Act 2013.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM367360.

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Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

296: Investment of money, or

"Putting Special Fund money in a bank account to earn interest"

298: Distribution of Special Fund, or

"What happens to the money in the Special Fund"

Part 9Lawyers and Conveyancers Special Fund

297Audit of accounts

The accounts of the Special Fund must be audited annually by a qualified auditor appointed for the purpose by the Management Committee.
No person is qualified for appointment as an auditor of the accounts unless the person is a qualified auditor (within the meaning of section 35 of the Financial Reporting Act 2013).

Compare

1982 No 123 s 91G(1)

Notes

Section 297(1): amended, on 1 April 2014, by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
Section 297(2): inserted, on 1 April 2014, by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).