Singapore legislation
Regulation 7
of Singapore Armed Forces (Central Welfare Fund) Regulations
Regulation 7
Statement of accounts
Subregulation 1
The Welfare Council shall maintain —
a Central Welfare Fund cash book showing all amounts received, the sources and dates on which such amounts were received and details of all payments with the date of and authority for such payments; and
appropriate ledger accounts.
Subregulation 2
The Welfare Council shall keep a loans ledger into which the amount of loans granted, amounts outstanding together with particulars of individual loans, interest thereon and repayments shall be recorded.
Subregulation 3
The Welfare Council shall submit annual statements of accounts to the Armed Forces Council.
Subregulation 4
Subregulation 5
The accounts shall be audited annually by the Internal Audit Department of the Ministry of Defence and the audit report shall be presented to the Armed Forces Council.
Subregulation 6
The accounts shall be subject to audit by the Auditor-General under the Audit Act (Cap. 17).