Its rules may make provision for an audit and set out who can be appointed. The members of the association or the committee of management may as a matter of practice simply decide to appoint an auditor. If the rules are silent on the matter, the question of eligibility is determined at the time the appointment is made.
The Committee of a prescribed association must have the accounts of the association audited. The accounts and audit information pamphlet referred to above sets out the requirements of Division 2 of Part 4 of the Act.
The accounts, auditor's report and other reports required by Division 2 of Part 4 of the Act must be laid before members at the annual general meeting which must be held within 5 months of the end of the financial year of the prescribed association.
Section 35 of the Act specifies the qualifications that an auditor must have to undertake an audit of a prescribed association.
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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