290 Accounts of profits and audit

(1)

The Secretary must keep full and true accounts with respect to—

(a)

the profits of New Zealand lotteries generally; and

(b)

the profits of every special purpose lottery conducted under section 245.

(2)

As soon as practicable after the end of each financial year, the Secretary must cause to be prepared and submitted to the Auditor-General full and true accounts with respect to the profits of New Zealand lotteries and every special lottery for that year.

(3)

The accounts must be presented in accordance with generally accepted accounting practice as if they were for an entity.

(4)

The accounts must be audited by the Auditor-General, who, for that purpose, has and may exercise all his or her powers under the Public Audit Act 2001.

(5)

After the audit, the Secretary must forward a copy of the accounts to the Board.

Compare: 1977 No 84 s 116Y