Expenses
s 8
Open ↗8. All expenses incurred in connection with the administration of the ComCare Fund, including the cost of auditing the accounts of the Fund, must be defrayed out of the income of the Fund.
Source
Community Care Endowment Fund Act 2005 PART 3 — FINANCIAL PROVISIONS
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Financial year of ComCare Fund
s 9
Open ↗9. The financial year of the ComCare Fund begins on 1 April of each year and ends on 31 March of the succeeding year.
Accounts
s 10
Open ↗10.—(1) The Minister must cause to be kept proper accounts and records of all transactions and affairs relating to the ComCare Fund and must do all things necessary to ensure that all payments out of the Fund are properly authorised and correctly made and that adequate control is maintained over the assets and receipts of the Fund. (2) The Minister must, as soon as practicable after the close of each financial year, cause to be prepared and submitted financial statements in respect of that year to the auditor of the ComCare Fund.
No payment unless approved by Minister
s 11
Open ↗11. A payment must not be made out of the ComCare Fund unless the payment is approved by the Minister or any authorised officer.
Appointment, powers and duties of auditor
s 12
Open ↗12.—(1) The accounts of the ComCare Fund must be audited by the Auditor‑General or such other auditor as may be appointed annually by the Minister in consultation with the Auditor‑General. (2) A person is not qualified for appointment as an auditor under subsection (1) unless he or she is a public accountant who is registered or deemed to be registered under the Accountants Act 2004. (3) The auditor or any person authorised by him or her is entitled at all reasonable times to full and free access to all accounting and other records relating, directly or indirectly, to the financial transactions of the ComCare Fund and may make copies of, or extracts from, any such accounting and other records. (4) The auditor must in the auditor’s report state —(a) whether the financial statements show fairly the financial transactions and the state of affairs of the ComCare Fund; (b) whether proper accounting and other records have been kept, including records of all assets of the ComCare Fund; (c) whether receipts, expenditure, and investment of moneys and the acquisition and disposal of assets on account of the ComCare Fund during the financial year were in accordance with the provisions of this Act; and (d) such other matters arising from the audit as he or she considers necessary. (5) The auditor must —(a) as soon as practicable after the accounts of the ComCare Fund have been submitted for audit, send a report of the audit to the Minister; and (b) submit such periodical and special reports to the Minister as may appear to the auditor to be necessary or as the Minister may require. (6) Where the Auditor-General is not the auditor of the ComCare Fund, a copy of the audited financial statements and any report made by the auditor must be forwarded to the Auditor‑General.
Failure to furnish information to auditor
s 13
Open ↗13.—(1) The auditor or any person authorised by the auditor may require any person to furnish him or her with such information in the possession of that person or to which that person has access as the auditor considers necessary for the purposes of the auditor’s functions under this Act. (2) Any person who, without reasonable excuse, fails to comply with any requirement of the auditor under subsection (1) or who otherwise hinders, obstructs or delays the 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 $1,000.
Presentation of annual report, financial statements and auditor’s report to Parliament
s 14
Open ↗14. The Minister must, as soon as practicable, cause an annual report in respect of the administration of the ComCare Fund during the preceding financial year to be prepared and must present a copy of such report and of the audited financial statements and the auditor’s report to Parliament.
Back to Community Care Endowment Fund Act 2005 — full text
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