All incorporated associations are required by the Act to keep such accounting records as correctly record and explain the transactions of the association and the financial position of the association. (Section 39C).
The nature and form of books and records that an association might require depends largely on the nature, size and membership of the association.
A prescribed association is required to adhere to a statutory standard of accounting and financial reporting. It must keep its accounting records in such a manner as will enable the preparation from time to time of accounts that represent fairly the results of the association's operations and the accounts so prepared to be conveniently and properly audited. Division 2 of Part 4 of the Act covers the requirements in more detail.
A prescribed association is required by Section 36 to lodge each year a periodic return containing its accounts and other reports required by Division 2 of Part 4 of the Act.
Further information on the accounts and audit requirements for prescribed associations - see Accounts and audit requirements.
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Information on copyright for the Office of Consumer and Business Affairs website is provided on behalf of South Australia Central http://www.sacentral.sa.gov.au/site/page.cfm?u=60
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The South Australian Office of Consumer and Business Affairs (OCBA) is committed to protecting your privacy and the confidentiality of your personal information, consistent with the South Australian Government's Information Privacy Principles. If you would like to view the full privacy statement please visit: http://www.ocba.sa.gov.au/privacy.html
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