Yes. Where a franchise agreement requires franchisees to contribute to a marketing fund, the franchisor must:

• within four months after the end of the last financial year, prepare an annual financial statement for the fund
• have the statement audited by a registered company auditor (unless 75% of the franchisor’s franchisees in Australia who contribute to the fund vote that the franchisor does not have to comply with this requirement)
• provide the statement and the auditor’s report (if required) to franchisees.

Reasonable costs of administering and auditing the fund must be paid from the fund.