Australian Capital Territory Repealed Acts Australian Capital Territory Repealed ActsThis legislation has been repealed.
(a) shall cause to be kept proper accounts and records of the transactions and affairs of the authority; and
(b) shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorised 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.
Penalty: $10,000.
96. (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 or her so doing.
(2) The Auditor-General may, at his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (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 subsection (1).
(4) The Auditor-General or a person authorised by the Auditor-General 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 authorised by the Auditor-General may make copies of, or take extracts from, any accounts or records referred to in subsection (4).
(6) The Auditor-General or a person authorised by the Auditor-General may require any person to furnish him or her with such information in the possession of the person, or to which the person has access, as the Auditor-General or authorised person considers necessary for the purposes of the functions of the Auditor-General under this Division.
(7) A person shall not refuse or fail to comply with a requirement under subsection (6) to the extent that the person is capable of complying with it.
Penalty—
(a) n the case of a natural person—$1,000 or imprisonment for 6 months, or both; or
(b) in the case of a body corporate—$5,000.
(8) A person shall not, in purported compliance with a requirement under subsection (6), knowingly furnish information that is false or misleading in a material particular.
Penalty—
(a) in the case of a natural person—$2,000 or imprisonment for 12 months, or both; or
(b) in the case of a body corporate—$10,000.
(9) A person is not excused from furnishing information in pursuance of a requirement under subsection (6) on the ground that the information may tend to incriminate the person, but any information furnished in pursuance of such a requirement is not admissible in evidence against the person in any criminal proceedings, other than proceedings for an offence against subsection (7) or (8).
97. (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 approves.
(2) Before submitting financial statements to the appropriate Minister under subsection (1), the authority shall submit them to the Auditor-General, who shall report to the appropriate Minister—
(a) whether, in the Auditor-General's opinion, the statements are based on proper accounts and records;
(b) whether the statements are in agreement with the accounts and records;
(c) whether, in the Auditor-General's opinion, the receipt, expenditure and investment of moneys, and the acquisition and disposal of assets, by the authority during the year have been in accordance with the enactment establishing the authority; and
(d) as to such other matters arising out of the statements as the Auditor-General considers should be reported to the appropriate Minister.
(3) The appropriate Minister shall cause copies of the report and financial statements together with a copy of the report of the Auditor-General to be laid before the Assembly within 15 sitting days after their receipt by the appropriate Minister.
(4) The first report to be prepared under this section shall be a report for the period commencing on the date of commencement of this section and ending at the expiration of 30 June 1990.
98. (1) In this Division, unless the contrary intention appears—
(2) A reference in this Division to a law of the Territory under which a body is established includes a reference to a law of the Territory continuing a body in existence, but does not include a reference to a law relating to companies.
99. (1) The Auditor-General shall, by notice published in the Gazette, set auditing standards to be complied with by company auditors when inspecting and auditing the accounts and records, or reporting on the financial statements, of privately audited bodies.
(2) In relation to a privately audited body, the Auditor-General may, at any time, report to the appropriate Minister—
(a) whether, in the Auditor-General's opinion, the company auditor has complied with auditing standards set under subsection (1);
(b) on the results and quality of the inspection and audit by the company auditor; and
(c) as to such other matters arising out of the audit, or the report on the financial statements, by the company auditor as the Auditor-General considers should be reported.
(3) The appropriate Minister shall cause a copy of a report by the Auditor-General under subsection (2) to be laid before the Assembly within 15 sitting days after its receipt by the appropriate Minister.
100. (1) The Auditor-General may, at any time, inspect and audit the accounts and records of financial transactions of a privately audited body and records relating to assets of, or in the custody of, the body and may 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 or her so doing.
(2) An inspection and audit by the Auditor-General of accounts and records referred to in subsection (1) may relate to all or any part of such accounts and records.
(3) The Auditor-General may report to the appropriate Minister the results of the inspection and audit carried out under subsection (1).
101. (1) Where, whether under this Part or otherwise, a privately audited body is required to submit to the appropriate Minister a report of its operations during a particular period, together with financial statements in respect of that period, the body shall, when submitting the financial statements to the Minister, submit copies of the statements to the Auditor-General.
(2) After considering the financial statements submitted by a body under subsection (1), the Auditor-General shall—
(a) report to the appropriate Minister that the Auditor-General does not intend to report on the financial statements; or
(b) report to the appropriate Minister—
(i) whether, in the Auditor-General's opinion, the statements are based on proper accounts and records;
(ii) whether the statements are in agreement with the accounts and records and, in the Auditor-General's opinion, show fairly the financial transactions and the state of the affairs of the body;
(iii) whether, in the Auditor-General's opinion, the receipt, expenditure and investment of money, and the acquisition and disposal of assets, by the body have been in accordance with the law of the Territory under which the body is established; and
(iv) as to such other matters arising out of the statements as the Auditor-General considers should be reported.
(3) The appropriate Minister shall cause a copy of a report by the Auditor-General under subsection (2) to be laid before the Assembly as soon as practicable after the copies of the report and financial statements of the body and the report of the company auditor are laid before the Assembly.
102. (1) The Auditor-General or a person authorised by the Auditor-General is entitled at all reasonable times to full and free access to—
(a) all accounts and records of a privately audited body relating directly or indirectly to the receipt or payment of money by the body or to the acquisition, receipt, custody or disposal of assets by the body; and
(b) all papers (including working papers) and reports of the company auditor relating to the body's accounts, records, financial statements or other documents.
(2) The Auditor-General or a person authorised by the Auditor-General may make copies of, or take extracts from, any such accounts, records, papers or reports referred to in subsection (1).
(3) The Auditor-General or a person authorised by the Auditor-General may require any person to furnish him or her with such information in the possession of the person, or to which the person has access, as the Auditor-General or authorised person considers necessary for the purposes of the powers and functions of the Auditor-General under this Division.
(4) A person shall not refuse or fail to comply with a requirement under subsection (3) to the extent that the person is capable of complying with it.
Penalty—
(a) in the case of a natural person—$1,000 or imprisonment for 6 months, or both; or
(b) in the case of a body corporate—$5,000.
(5) A person shall not, in purported compliance with a requirement under subsection (3), knowingly furnish information that is false or misleading in a material particular.
Penalty—
(a) in the case of a natural person—$2,000 or imprisonment for 12 months, or both; or
(b) in the case of a body corporate—$10,000.
(6) A person is not excused from furnishing information in pursuance of a requirement under subsection (3) on the ground that the information may tend to incriminate the person, but any information furnished in pursuance of such a requirement is not admissible in evidence against the person in any criminal proceedings, other than proceedings for an offence against subsection (4) or (5).