Tasmanian Numbered Regulations
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RETIREMENT BENEFITS REGULATIONS 2005 (S.R. 2005, NO. 77) - REG 26
Accounts and records
(1) The Board must ensure that there are proper accounts and records
kept of the transactions and affairs of the Board and any other records as
will sufficiently explain the financial operations and position of the Board.
(2) The Board is to do all things necessary to (a) ensure
that all money payable to the Board is properly collected; and
(b) ensure that
all money expended by the Board is properly authorised; and
(c) ensure that
adequate control is maintained over assets owned by, or in the custody of, the
Board; and
(d) ensure that all liabilities incurred by the Board are properly
authorised; and
(e) develop and maintain an adequate budgeting and accounting
system; and
(f) develop and maintain an adequate internal audit system.
(3) As soon as practicable after 30 June in each year, the Board must
prepare a statement of accounts, in a form approved by the Auditor-General,
having regard to subregulation (4) , showing a true and correct view of
the financial position of the Fund as at that date and the transactions of the
Fund with respect to the period of 12 months ending on that date.
(4) For the purposes of subregulation (3) , the investments of the
Fund are to be shown at market value as at 30 June in each year, with
unrealised capital gains and losses being brought to account.
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