Accounts and audit

Labour202640 sections8 chapters

Chapter IV FINANCIAL PROVISIONS

Statutory text

(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed.
(2) The accounts of the Fund shall be audited annually by the Office of the Accountant General of the State.
(3) The accounts of the Fund certified by the auditor, together with the audited report thereon shall be submitted annually by the Board to the Government before such date as may be prescribed.
(4) The Board shall comply with such directions as the Government may, after perusal of the report of the Auditor, think fit to issue.
(5) The cost of the audit, as determined by the Government, shall be paid out of the administrative costs of the Fund.
(6) All monies forming part of the Fund shall be kept in current or deposit account with any Nationalized Bank or as prescribed by the Government.

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