Section 14Part 0 —
Accounts of the Council, etc.
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The Council shall cause to be kept proper accounts and records of the transactions and affairs of the Exchange and shall do all things necessary to ensure that all moneys received are properly brought to account and that all payments out of its moneys are correctly made and properly authorised.
The accounts of the Exchange shall be audited annually by an auditor appointed by the Authority with the approval of the Chief Officer in the Ministry responsible for Financial Services.
The financial year of the corporation shall coincide with the calendar year.
The Council shall cause to be prepared and submitted to the Authority, within four months after the expiration of the financial year of the Exchange, a report containing —
audited financial statements for the financial year;
a report on the operations of the Exchange during the preceding financial year; and
such other information as the Authority may direct in writing.
The financial statements referred to in paragraph (a) of subsection (4) shall be prepared in accordance with international accounting standards.
The financial statements referred to in paragraph (a) of subsection (4) shall —
present fairly the financial transactions of the Exchange during the financial year to which they relate;
present fairly the financial position of the Exchange at the end of the financial year; and
be certified in a manner required by the Auditor General.
The Authority shall, within one month after receiving the financial statements and other information referred to in paragraphs (b) and (c) of subsection (4), submit the statements and information to the Auditor General.
The Minister charged with responsibility for Financial Services shall cause copies of each annual report together with a copy of the opinion of the Auditor General to be laid before the Legislative Assembly as soon as practicable after receiving that report.