Singapore legislation
Section 15
Section 15
Accounts, financial statements and audit
(1)
The Minister is responsible for the administration of the Fund.
(2)
The Minister must cause to be kept proper accounts and records of all transactions and affairs relating to the Fund and must do all things necessary to ensure that payments out of the Fund are correctly made and properly authorised and that adequate control is maintained over the assets and receipts of the Fund.
(3)
The Minister must, as soon as practicable after the close of each financial year, cause to be prepared and submitted financial statements in respect of that year to the auditor mentioned in section 16.
(4)
The financial year of the Fund begins on 1 April of each year and ends on 31 March of the succeeding year.