Singapore legislation
Section 21
Section 21
Accounts and financial statements
(1)
The Corporation shall keep proper accounts and records of its transactions and affairs and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of, the Corporation and over the expenditure incurred by the Corporation.
(2)
The Corporation shall, as soon as practicable after the close of each financial year, prepare and submit financial statements in respect of that year to the auditor of the Corporation.