Date of audit, Commissioner may change
71 Date of audit, Commissioner may change
Notwithstanding anything else in this Part, an agent may apply in writing to the Commissioner to fix some date other than 31 December, as the date up to which his trust accounts are to be audited, and the Commissioner may, in the Commissioner’s discretion, permit the agent to substitute such other date for 31 December.
The Commissioner may, upon giving not less than one year’s notice to the agent affected, revoke any permission granted under this section.
When permission is granted under this section the Commissioner shall fix the period in respect of which the first audit shall be made, and the permission may be given upon such conditions, with respect to the time within which the first or any subsequent audit shall be made or otherwise, as the Commissioner may think fit.
So long as the permission remains in force, and subject to any conditions which may be imposed, section 70 shall, in relation to the agent concerned, be read as if such other date was substituted for 31 December.
When any date has been substituted for 31 December under this section, the date so substituted shall not be further changed except by permission of the Commissioner granted in accordance with this section.
[Section 71 amended: No. 58 of 2010 s. 134.]
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