Singapore legislation
Clause 39
Clause 39
Accounts to be kept
(1)
The Board shall prepare in respect of each financial year a statement of accounts in a form approved by the Auditor-General or by an auditor appointed by the Board with the approval of the Minister.
(2)
The Board shall keep proper accounts and records of its transactions and affairs and shall do all things necessary to ensure that all payments out of the Fund are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of the Board, and over the expenditure incurred by the Board.