Singapore legislation
Section 20
Section 20
Audit of accounts
(1)
The accounts of the Board shall be audited by the Auditor-General or such other auditor as may be appointed annually by the Minister in consultation with the Auditor-General.
(2)
A person shall not be qualified for appointment as an auditor under subsection (1) unless he is an approved company auditor under the Companies Act [Cap. 50].
(3)
The auditor or any person authorised by him is entitled at all reasonable times to full and free access to all accounting and other records relating directly or indirectly to the financial transactions of the Board.
(4)
The auditor shall in his report state —
whether the financial statements show fairly the financial transactions and the state of affairs of the Board;
whether proper accounting and other records have been kept, including records of all assets of the Board whether purchased, donated or otherwise;
whether the receipts, expenditure, and investment of moneys and the acquisition and disposal of assets by the Board during the financial year were in accordance with the provisions of this Act; and
such other matters arising from the audit as he considers necessary.
(5)
The auditor shall, as soon as practicable after the accounts have been submitted for audit, send a report of his audit to the Board. He shall also submit such periodical and special reports to the Minister and to the Board as may appear to him to be necessary or as the Minister or the Board may require.