Financial Reporting Act 1997 s 24
Some sections could not be extracted from the official PDF, so this text may be incomplete.
s 24 Accounts
(1) The Foundation shall cause proper accounts of the Fund to be kept and shall, as soon as practicable after the end of each financial year, cause to be prepared for that financial year a statement of accounts of the Foundation which shall include a balance sheet, a statement of income and expenditure and a cash flow statement.
(2) The Foundation shall cause its statement of accounts to be audited by such auditors as it may appoint.
(3) The Foundation shall as soon as practicable send a copy of the audited statement of accounts together with a copy of the auditor’s report thereon to the Minister who shall cause a copy thereof to be laid before both Houses of Parliament.
Malay text (authoritative)
Akaun
(1) Yayasan hendaklah menyebabkan supaya disimpan akaun yang sepatutnya bagi Kumpulan Wang dan hendaklah, dengan seberapa segera yang praktik selepas tamat setiap tahun kewangan, menyebabkan disediakan untuk tahun kewangan itu suatu penyata akaun bagi Yayasan yang hendaklah termasuk suatu kunci kira-kira, penyata pendapatan dan perbelanjaan dan penyata aliran tunai.
(2) Yayasan hendaklah menyebabkan penyata akaunnya diaudit oleh juruaudit yang dilantik olehnya.
(3) Yayasan hendaklah dengan seberapa segera yang praktik menghantar satu salinan penyata akaunnya yang sudah diaudit berserta satu salinan laporan juruaudit tentangnya kepada Menteri yang hendaklah menyebabkan
satu salinan penyata dan laporan itu dibentangkan di hadapan kedua-dua Majlis Parlimen.
Read this section in the full act → · Open Part III →
Find Act 558 on lom.agc.gov.my ↗
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
