Singapore legislation
Section 32
Section 32
Financial statements
(1)
The Corporation 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 Corporation’s auditor who shall audit and report on them.
(2)
The Corporation’s auditor shall report —
whether the financial statements show fairly the financial transactions and the state of affairs of the Corporation; and
on such other matters arising from the audit as he considers necessary.
(3)
The Corporation’s auditor shall state in his report whether —
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 Corporation during the year have been in accordance with the provisions of this Act.
(4)
The Corporation’s auditor may at any other time report to the Minister through the Corporation upon any matter arising out of the performance of his audit.