Community Gaming Regulation 2020

The accounts of a person or body that conducts a gaming activity must be audited annually by a qualified auditor if the gross proceeds of the gaming activity, or of gaming activities conducted by the person or body in a year commencing on 1 July, exceed $250,000.

The audit is to cover the accounts that relate to receipts and expenses in connection with the gaming activity or gaming activities.

The auditor must report on the following—

whether the accounts show a true and fair view of the financial result of the gaming activity or gaming activities,

whether the accounts and associated records have been properly kept,

whether money received as a result of the gaming activity or gaming activities has been properly accounted for and applied in accordance with the Act and this Regulation,

the solvency of the person or body.

A person or body must ensure that its accounts are audited in accordance with this clause.

If a body fails to comply with this clause, each trustee or other person who was a member of the governing body of the body at the time of the offence is guilty of an offence, if the trustee or person knowingly authorised or permitted the failure to comply.

A person is a qualified auditor for the purposes of this clause if the person—

is a registered company auditor within the meaning of the Corporations Act, or

is an authorised audit company within the meaning of the Corporations Act, or

is a member of a professional accounting body within the meaning of the Australian Securities and Investments Commission Act 2001 of the Commonwealth and holds a Public Practice Certificate or Certificate of Public Practice issued by the body, or

is a person who has been nominated by the person whose records and documents are to be audited and who has been approved by the Secretary by order in writing.

A person is not a qualified auditor for the purposes of this clause if the person has been, at any time within 2 years before the last day of the period in respect of which the audit is to be made, or is—

an employee or partner of the person whose accounts are to be audited, or

engaged in the business carried on by the person whose accounts are to be audited, other than as an auditor for the purposes of this clause.

A reference in this clause to a person engaged in a business carried on by another person (the business operator) is a reference to a person—

who is engaged by the business operator, other than as an employee of the business operator, to provide services in the course of the business conducted by the business operator, or

whose services are or have been provided to the business operator in the course of the business carried on by the business operator, other than as an employee of the business operator, under an arrangement entered into by the business operator with another person.

In this clause—