(1)  Within 45 days after the end of the financial year, the Board is to –

(a) prepare the financial statements for the Academy relating to that financial year; and

(b) provide the Auditor-General with the financial statements of the Academy.

(2)  Financial statements in respect of a financial year are to consist of the following:

(a) an operating statement for that financial year;

(b) a statement of financial position as at the end of that financial year;

(c) a statement of the cash flows for that financial year;

(d) any other financial information required to be included by a direction given under subsection (4) ;

(e) any statements, reports and notes, other than a directors' report or an auditor's report, attached to, or intended to be read with, the operating statement and the statement of financial position.

(3)  The financial statements are to –

(a) comply with any direction given under subsection (4) ; and

(b) subject to that direction, comply with the Australian Accounting Standards.

(4)  The Treasurer may give any written directions to the Board in respect of the form of the financial statements.