When you keep accounting records, you must keep them in written form and in English. You can also keep them in a form that is easily accessible and can be converted into written English. You must be able to easily get the information from the records and change it into written English if needed. If you do not follow this rule, you can get in trouble with the law.

If you are an FMC reporting entity and you break this rule, you can commit an offence and have to pay a fine of up to $50,000. This offence is also an infringement offence, which is explained in subpart 5 of Part 8. You should look at this link to learn more about infringement offences.

You have to follow the rules about accounting records to avoid getting in trouble with the law. The law says you must keep your accounting records in a way that you can easily understand and access the information. You must keep your records in English or be able to easily convert them into English.