Singapore legislation
Section 22
Section 22
Audit of accounts
(1)
The accounts of the Authority 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 Authority.
(4)
The auditor shall in his report state —
whether the financial statements show fairly the financial transactions and the state of affairs of the Authority;
whether proper accounting and other records have been kept, including records of all assets of the Authority whether purchased, donated or otherwise;
whether the receipts, expenditure and investment of moneys and the acquisition and disposal of assets by the Authority 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 Authority.
(6)
The auditor shall submit such periodical and special reports to the Minister and to the Authority as may appear to him to be necessary or as the Minister or the Authority may require.