Singapore legislation
Clause 35
Clause 35
Duties of auditor
(1)
The auditor shall inspect and audit the accounts and other relevant records of the society and shall forthwith draw the attention of the Registrar and the society to any irregularity disclosed by the inspection and audit that is, in the opinion of the auditor, of sufficient importance to justify his so doing. The financial statements submitted by the society after the close of the financial year shall be audited and reported on by the auditor.
(2)
The auditor shall report —
whether the financial statements show fairly the financial transactions and the state of affairs of the society; and
such other matters arising from the audit as he considers should be reported.
(3)
The auditor shall state in his report whether —
proper accounting and other records have been kept;
the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the society during the year have been in accordance with the by-laws of the society and the provisions of this Act and the Rules.
(4)
The auditor may at any other time report to the Registrar and the society upon any matters arising out of the performance of the audit.
(5)
The audit of the accounts of a registered society shall include an examination of and report on overdue debts, if any, and an examination of and report on the valuation of the assets and liabilities of the society.