New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 41C

41C Auditing etc of financial report

(1) The Auditor-General is to audit a statutory body’s financial report for a financial year within 10 weeks of its receipt by the Auditor-General.

(1A) The Auditor-General or a person (being the Deputy Auditor-General or an auditor) authorised by the Auditor-General is, within that 10-week period to furnish an opinion:

(a) stating that the Auditor-General has audited the financial report of the statutory body for that financial year, and

(b) indicating whether the financial report complies with section 41B, and

(c) setting forth any qualifications subject to which the opinion is given.

(1B) An opinion in relation to the financial report of a statutory body is not to be furnished under subsection (1A) unless the Auditor-General has received a statement made in accordance with a resolution of the statutory body and:

(a) stating whether, in the opinion of the person or persons by whom the statement is signed:

(i) the financial report exhibits a true and fair view of the financial position and financial performance of the statutory body, or

(ii) if the statutory body is the Senate, Council or Board of Governors of a university, the financial report exhibits a true and fair view of the financial position and financial performance of the university, and

(b) including such matters as are prescribed by the regulations for the purposes of this subsection.

(1C) The statement referred to in subsection (1B) is to be signed:

(a) in the case of a statutory body that has a governing body-by at least 2 members of the governing body, or

(b) in the case of a statutory body that does not have a governing body-by the chief executive officer of the statutory body or the person who exercises the functions of a chief executive officer in relation to the statutory body, or

(c) by a person prescribed by the regulations in respect of the statutory body.

(1D) For the purposes of subsection (1C), a member of the governing body of a statutory body includes, where the statutory body is the Senate, Council or Board of Governors of a university, a member of the Senate, Council or Board of Governors.

(2) Nothing in this section prevents the alteration of a statutory body’s financial report, with the approval of the Auditor-General, after its receipt by the Auditor-General and before its submission to the Minister.