Victorian Current Acts Victorian Current Acts(1) As soon as practicable after the end of each financial year of the association, the committee of a tier two association must cause financial statements for that year to be prepared in accordance with subsection (2).
Penalty: 5 penalty units.
(2) The financial statements must—
(a) be prepared in accordance with the Australian Accounting Standards; and
(b) deal with any matters prescribed by the regulations.