Document ID: chunk:federal_register_of_legislation:C2004A02018:body:0:p44
Version: federal_register_of_legislation:C2004A02018
Segment Type: other
Provision Reference: 
Character Range: 108412–111190

section.

Proper accounts to be kept
"63k. The authority shall cause to be kept proper accounts and records of the transactions and affairs of the authority and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the authority and over the incurring of liabilities by the authority.

Audit
"63l. (1) The Auditor-General shall inspect and audit the accounts and records of financial transactions of the authority and records relating to assets of, or in the custody of, the authority, and shall forthwith draw the attention of the appropriate Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor-General, of sufficient importance to justify his so doing.
"(2) The Auditor-General may, at his discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in sub-section (1).
"(3) The Auditor-General shall, at least once in each year, report to the appropriate Minister the results of the inspection and audit carried out under sub-section (1).
"(4) The Auditor-General or a person authorized by him is entitled at all reasonable times to full and free access to all accounts and records of the authority relating directly or indirectly to the receipt or payment of moneys by the authority or to the acquisition, receipt, custody or disposal of assets by the authority.
"(5) The Auditor-General or a person authorized by him may make copies of, or take extracts from, any such accounts or records.
"(6) The Auditor-General or a person authorized by him may require any person to furnish him with such information in the possession of the person, or to which the person has access, as the Auditor-General or authorized person considers necessary for the purposes of the functions of the Auditor-General under this Division, and the person shall comply with the requirement.

"(7) A person who contravenes sub-section (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.

Annual report and financial statements
"63m. (1) The authority shall, as soon as practicable after 30 June in each year, prepare and submit to the appropriate Minister a report of its operations during the year ended on that date, together with financial statements in respect of that year in such form as the Minister administering this Act approves.
"(2) Before submitting financial statements to the appropriate Minister under sub-section (1), the authority shall submit them to the Auditor-General, who shall report to the appropriate Minister—
      (a) whether, in his opinion, the statements are based on proper