(1) The accountability report consists of a profit and loss account based on a statement of income and expenditure in accordance with the provisions of this Act, a related balance sheet and an explanatory part. In compliance with the principles of proper bookkeeping, he provides information on the origin and use of the funds and the assets of the party in accordance with the actual circumstances.
(2) Unless otherwise specified in this law, the commercial law provisions on accounting, in particular regarding the recognition and valuation of assets, apply to all merchants. Accounts, books, balance sheets and reports are to be kept for ten years. The retention period begins at the end of the accounting year.
Source: § 24(1-2), Political Parties Act, 1967 (amended 2018)