Singapore legislation
Section 12
Section 12
Financial statements and audit reports
(1)
The Board must, as soon as practicable after the close of each financial year of the Fund, cause to be prepared and submitted to the Auditor‑General the financial statements and accounts for the Fund relating to that financial year, and the Auditor‑General must then audit or cause an audit of the statements and accounts and report on them.
(2)
The financial year of the Fund is a period of 12 months ending on 31 March in any year.
(3)
The remuneration of the auditor must be paid out of the Fund.
(4)
As soon as the accounts of the Fund and the financial statements have been audited in accordance with this Act, a copy of the audited financial statements, together with a copy of any report made by the auditor, must be submitted to the Board.
(5)
Where the Auditor‑General is not the auditor of the Fund, a copy of the audited financial statements and any report made by the auditor must be forwarded to the Auditor‑General at the same time they are submitted to the Board.
(6)
The Minister must as soon as practicable cause a copy of the audited financial statements of the Fund and the auditor’s report to be presented to Parliament.