A licensee keeps financial records that correctly record and explain the transactions and financial position of its financial services business, kept so true and fair profit and loss statements and balance sheets can be prepared and audited, in sufficient detail to show money received and paid (including client money accounts), product acquisitions and disposals, income and expenses, assets and liabilities, and property held for others (ss 988A to 988E). It prepares for each financial year a true and fair profit and loss statement and balance sheet and lodges them with ASIC in the prescribed form (FS70) with an auditor's report (FS71) within the period the Regulations set (s 989B; offences).
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.