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Taratahi Agricultural Training Centre (Wairarapa) Act 1969

14: Accounting records must be kept

You could also call this:

"The trust board must keep accurate and easy-to-check financial records."

Illustration for Taratahi Agricultural Training Centre (Wairarapa) Act 1969

You need to keep accounting records at all times. These records must correctly show the trust board's transactions. They must also help the trust board ensure its financial statements comply with this Act. You must be able to audit the trust board's financial statements easily and properly. The trust board must have a good system to control these accounting records. The accounting records must be in written English or in a form that can be easily accessed and converted into written English.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM394316.

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13: Banking of money, or

"Putting the trust board's money into a bank account"

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14A: Financial statements must be prepared, or

"The trust board must prepare yearly financial statements by 31 March."

14Accounting records must be kept

  1. The trust board must ensure that there are kept at all times accounting records that—

  2. correctly record the transactions of the trust board; and
    1. will enable the trust board to ensure that the financial statements of the trust board comply with this Act; and
      1. will enable the financial statements of the trust board to be readily and properly audited.

        1. The trust board must establish and maintain a satisfactory system of control of those accounting records.

        2. The accounting records must be kept—

        3. in written form in English; or
          1. in a form or manner in which they are easily accessible and convertible into written form in English.

            Notes
            • Section 14: replaced, on , by section 125 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).