Associated documents for audit report for licensed monitoring operator
180 Associated documents for audit report for licensed monitoring operator
A licensed monitoring operator, on receiving a copy of an audit report under section 178(1)(c) for a financial year, must, in addition to giving a copy of the report to the commissioner under section 179, give to the commissioner, as required under this section—
if the registered company auditor who carried out the audit issued a management letter for the audit—a copy of the management letter; and
a copy of the audited financial statements for the operator’s monitoring operations for the financial year; and
a copy of a profit and loss statement containing the required details of revenue and expenditure for the operator’s monitoring operations for the financial year; and
if an entity controls the licensed monitoring operator—a copy of the consolidated financial statements for the entity.
Maximum penalty—200 penalty units.
A document mentioned in subsection (1)(a) must be given to the commissioner with the copy of the audit report given to the commissioner.
A document mentioned in subsection (1)(b) to (d) must be given to the commissioner—
if the licensed monitoring operator’s annual general meeting for the financial year was held before the operator received the copy of the audit report—with the copy of the audit report given to the commissioner; or
if paragraph (a) does not apply—within 14 days after the licensed monitoring operator’s annual general meeting for the financial year is held.
Subsection (1) applies to the licensed monitoring operator for a profit and loss statement only to the extent to which the audited financial statements given to the commissioner do not contain the required details of revenue and expenditure for the operator’s monitoring operations for the relevant financial year.
In this section—control see the Corporations Act, section 50AA.required details of expenditure, for the monitoring operations of a licensed monitoring operator for a financial year, means details of expenditure incurred by the operator for the year for a matter in carrying on the monitoring operations, including, for example—
the payment of wages; and
the payment of consultancy fees; and
the supply of gaming equipment, or ancillary or related equipment; and
the acquisition, supply, maintenance or use of information technology (whether or not, in the case of maintenance, it is being used by the operator or someone else, or, in the case of use, it is the operator’s or someone else’s technology).
required details of revenue, for the monitoring operations of a licensed monitoring operator for a financial year, means details of revenue received by the operator for the year for a matter in carrying on the monitoring operations, including, for example—
the supply of basic monitoring services; and
the supply of information technology for use for supplying basic monitoring services; and
the supply of gaming equipment, or ancillary or related equipment; and
the supply of services relating to any of the following matters (whether or not the services are associated with the supply of equipment)—
training;
marketing;
linked jackpot arrangements;
the giving of advice about management.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.