Singapore legislation
Section 22
Section 22
Appointment and powers of Academy’s auditor
(1)
The accounts of the Academy must be audited by an auditor appointed annually by the Senate.
(2)
A person must not be appointed as an auditor of the Academy unless the person is a public accountant within the meaning of the Companies Act 1967.
(3)
The Academy’s auditor must report —
whether the financial statements show fairly the financial transactions and the state of affairs of the Academy; and
on any other matters arising from the audit that the auditor considers necessary.
(4)
The Academy’s auditor must state in the auditor’s report whether —
proper accounting and other records have been kept;
the financial statements are prepared on a basis similar to that adopted for the preceding year; and
the financial statements are in agreement with the accounting and other records.
(5)
The Academy’s auditor or a person authorised by the auditor is entitled to full and free access to all accounting and other records relating, directly or indirectly, to the financial transactions of the Academy and may make copies of, or extracts from, any such accounting and other records.
(6)
The Academy’s auditor or a person authorised by the auditor may require any person to provide the auditor with any information which that person possesses or has access to that the auditor or duly authorised person considers necessary for the purposes of the functions of the auditor under this Act.
(7)
An officer of the Academy who refuses or fails, without any reasonable cause, to allow the Academy’s auditor access to any accounting and other records of the Academy in the officer’s custody or power or to give any information possessed by the officer as and when required or who otherwise hinders, obstructs or delays the Academy’s auditor in the performance of his or her duties or the exercise of his or her powers shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 and, in the case of a continuing offence, to a further fine not exceeding $100 for every day or part of a day during which the offence continues after conviction.