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127: Residential Tenancies Trust Account
or “A special bank account that holds money from tenants' bonds and other rental payments”
You could also call this:

“The government's top money-checker looks after the special bank account for rented homes.”

The Residential Tenancies Trust Account is considered a public entity under the Public Audit Act 2001. This means that the Auditor-General, who is responsible for auditing public entities, will be the auditor for this account.

In addition to the Auditor-General’s role, the chief executive can appoint another person or company to be an extra auditor for the Residential Tenancies Trust Account. However, before doing this, the chief executive must talk to the Auditor-General first. The person or company chosen as the extra auditor must have the right qualifications to do the job.

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Next up: 129: Part B of the Fund

or “A part of the fund that used to exist but doesn't anymore”
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Part 4 Administration
Residential Tenancies Trust Account

128Auditor-General to be auditor of Residential Tenancies Trust Account

  1. The Residential Tenancies Trust Account is to be treated as a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.

  2. Without limiting subsection (1), the chief executive may, after consultation with the Auditor-General, appoint a person or firm that is qualified for appointment as an auditor to be an additional auditor of the Residential Tenancies Trust Account.

Notes
  • Section 128: replaced, on , by section 53 of the Public Audit Act 2001 (2001 No 10).