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Plumbers, Gasfitters, and Drainlayers Act 2006

Administration, appeals, and miscellaneous provisions - Plumbers, Gasfitters, and Drainlayers Board

158: Annual financial statements and statement of responsibility

You could also call this:

"The Board must prepare and sign financial statements each year, taking responsibility for their accuracy."

Illustration for Plumbers, Gasfitters, and Drainlayers Act 2006

The Board must finish financial statements within 3 months of the end of the financial year. You need to know these statements must follow generally accepted accounting practice, which is explained in section 8 of the Financial Reporting Act 2013. The statements must be dated and signed by two Board members. The financial statements must include budgeted figures for the financial year. You can find out what financial statements mean by looking at section 6 of the Financial Reporting Act 2013. The Board is responsible for preparing the financial statements and making sure they are accurate. The Board must also make a statement of responsibility, which says they are responsible for the financial statements and for making sure the financial reporting is reliable. This statement must include the Board's responsibility for the preparation of the financial statements and for establishing a system of internal control. The Board's system of internal control is designed to provide reasonable assurance that the financial reporting is accurate.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM397766.

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Part 4Administration, appeals, and miscellaneous provisions
Plumbers, Gasfitters, and Drainlayers Board

158Annual financial statements and statement of responsibility

  1. The Board must ensure that, within 3 months after the end of the financial year, financial statements that comply with generally accepted accounting practice are—

  2. completed in relation to the Board and that financial year; and
    1. dated and signed on behalf of the Board by 2 members of the Board.

      1. The financial statements must contain, in relation to each financial statement, budgeted figures for the financial year.

      2. In this section,—

        financial statements has the same meaning as in section 6 of the Financial Reporting Act 2013

          generally accepted accounting practice has the same meaning as in section 8 of the Financial Reporting Act 2013.

          1. The statement of responsibility for the financial statements must—

          2. contain a statement of the Board’s responsibility for the preparation of the financial statements and the judgements in them; and
            1. contain a statement of the Board’s responsibility for establishing and maintaining a system of internal control that is designed to provide reasonable assurance as to the integrity and reliability of financial reporting.

              Notes
              • Section 158(1): replaced, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
              • Section 158(2): replaced, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
              • Section 158(2A): inserted, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
              • Section 158(3)(a): amended, on , by section 126 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).