Pauline Hanson’s One Nation party faces being struck off in Queensland after failing its legal obligation to lodge audited financial statements with the state’s regulator.The breach exposes Hanson and the New South Wales One Nation senator Sean Bell to financial penalties, with Hanson registered as president and Bell as secretary for the party in Queensland where it is headquartered.One Nation, which has been facing growing scrutiny of its finances as it has surged in popularity over the past year, has failed to lodge three years of audited financial reports.Guardian Australia revealed last month that the party has repeatedly failed to meet the legal requirements for running an incorporated association in the state, including failing to hold annual general meetings on time and repeatedly filing annual and financial reports late.The returns filed up until 2022 also revealed more than $1m in missing or worthless assets that the party has refused to explain, prompting criticism of its “sloppy” accounting methods.In June, Queensland’s Office of Fair Trading requested that the party comply with its obligations to file the last three years of annual returns.Sign up for the Breaking News Australia emailThe party has since lodged the overdue annual returns, filing them with the regulator on 3 July.But the returns did not include proper financial statements as required under the act.“One Nation Queensland Division Inc has lodged its annual returns to the OFT for the years 2022/2023, 2023/2024 and 2024/2025, but these returns did not include the audited financial statements as required by the Associations Incorporation Act 1981,” a spokesperson for the regulator said.skip past newsletter promotionafter newsletter promotion“The Office of Fair Trading has given the association until 18 August 2026 to lodge the outstanding financial statements.”Failure to meet this deadline will result in an investigation by the regulator, which may lead to enforcement action.