Page 3370 - Week 12 - Tuesday, 17 September 1991

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Penalty: $2,000.

"(2) An auditor of an incorporated association shall report to the members on the accounts required to be laid before the association at the annual general meeting and on the association's accounting records and other records relating to those accounts.

"(3) An auditor shall, in a report under this section, state -

(a) whether the accounts are in the auditor's opinion properly drawn up -

(i) so as to give a true and fair view of matters required by subsection 72(2) to be dealt with in the accounts;

(ii) in accordance with the provisions of this Act; and

(iii) in accordance with proper accounting standards;

(b) if, in the auditor's opinion, the accounts have not been drawn up in accordance with proper accounting standards -

(i) whether, in the auditor's opinion, the accounts would, if drawn up in accordance with proper accounting standards, have given a true and fair view of the matters required by subsection 72(2) to be dealt with in the accounts;

(ii) if, in the auditor's opinion, the accounts would not, if so drawn up, have given a true and fair view of those matters - the auditor's reasons for being of that opinion; and

(iii) if subparagraph (ii) does not apply - particulars of the quantified financial effect on the accounts of the failure to so draw up the accounts;

(c) any defect or irregularity in the accounts and any matter not set out in the accounts without regard to which a true and fair view of the

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