(a) The private party must provide, on a half-yearly basis, the following unaudited documents for the financial year to date:
(i) statement of financial performance, cash flow statement, statement of financial position and statement on changes to owner's equity;
(ii) comments on any material variations between actual and budgeted-to-date results; and
(iii) details of all the private party's indebtedness and changes to its financing arrangements. Where the project provides for third party revenue, government may also require details of any third party revenue earned by the private party in respect of which government may have a financial interest.
(b) Government requires audited financial statements of the private party and its material sub-contractors to be submitted to it following the end of the financial year.
(c) All books of account are to be kept in accordance with Law and the accountancy principles generally accepted in Australia and must show in detail the private party's administrative overhead costs, payments to sub-contractors and capital and revenue expenditure. This information allows government to verify expenditure proposed by the private party arising from government-initiated Modifications, compensable events, qualifying Changes in Law, benchmarking and market testing.