Forest Practices Act 1985

The Authority must –

keep such accounting records as correctly record and explain its transactions, including any transactions as trustee, and financial position; and keep those records in a manner that – allows true and fair accounts of the Authority to be prepared from time to time; and allows its accounts to be conveniently and properly audited or reviewed; and complies with Australian Accounting Standards; and retain those records for a period of not less than 7 years after the completion of the transaction to which they relate.