Water Management Act 2000

A private water trust must cause proper accounts and records to be kept in relation to all the operations of the trust.

The trust must prepare financial statements for each financial year of the trust.

Section 7.6 of the Government Sector Finance Act 2018 applies to financial statements required to be prepared under this section in the same way that it applies to annual GSF financial statements required to be prepared under that Act.

The financial statements must be submitted for verification and certification to an auditor appointed in the manner prescribed by the rules of the trust.

The regulations may provide for the qualifications for appointment as an auditor under this section.

A trustee of a trust or a member of a trust must not be appointed to audit the financial statements of the trust.