The Fair Work (Registered Organisations) Act 2009 requires that the financial affairs of unions are checked and audited every 12 months to make sure union funds are administered properly and to detect any shortcomings. Unions are also required to prepare an operating report. The National Executive and the Branches of the ASU each have their own audits conducted and prepare their own reports.
Below you can download the full audited financial statements and operating report of the National Executive for the financial year ending June 30, 2014. As you will see, the Independent Auditor's Opinion is as follows:
"In our opinion the accompanying general purpose financial report of the National Office of the Australian Municipal Administrative Clerical and Services Union presents fairly in all material respects the financial position of the National Office as at 30th June 2014 and its financial performance and cash flows for the year ended on that date in accordance with applicable Australian Accounting Standards and the Fair Work (Registered Organisations) Act 2009."