Singapore legislation
Section 44
Section 44
Financial statements
(1)
The Authority shall, not later than 31st July in every year, prepare and submit the financial statements in respect of the preceding financial year to the Authority’s auditor who shall audit and report on them.
(2)
The Authority’s auditor shall send an annual report of his audit to the Authority not later than 30th September in each year.
(3)
The Authority’s auditor shall also submit such periodical and other reports as may appear necessary to him.
(4)
The Authority’s auditor shall report —
whether the financial statements show fairly the financial transactions and the state of affairs of the Authority; and
on such other matters arising from the audit as he considers necessary.
(5)
The Authority’s auditor shall state in his 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;
the financial statements are in agreement with the accounting and other records; and
the receipt, expenditure and investment of moneys and the acquisition and disposal of assets by the Authority during the year have been in accordance with the provisions of this Act.[43