Singapore legislation
Section 18
Section 18
Financial statements
(1)
The Board shall, as soon as practicable after the close of the financial year, prepare and submit the financial statements in respect of that year to the Board’s auditor who shall audit and report on them.
(2)
The Board’s auditor shall report —
whether or not the financial statements show fairly the financial transactions and the state of affairs of the Board; and
on such other matters arising from the audit as he considers necessary.
(3)
The Board’s auditor shall state in his report whether or not —
proper accounting and other records have been kept;
the financial statements are prepared on a basis similar to that adopted for the preceding year;
the financial statements are in agreement with the accounting and other records; and
the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Board during the year have been in accordance with the provisions of this Act.[16B