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(1) In respect of the accounts of a statutory corporation, a state enterprise or a public commercial institution operating under its own enactment, the Auditor-General or any person appointed by him shall upon the examination of the accounts of the body or institution, express his opinion as to whether the accounts present fairly financial information in accordance with the applicable statutory provisions, stated accounting policies of the Government and is in accordance with generally accepted accounting standards and essentially consistent with that of the preceding year.

(2) The Auditor-General or any person appointed by the Auditor-General to audit the accounts of statutory corporations shall in addition to the audit report draw attention to the following

(a) the profitability, liquidity, stability and solvency of the corporation and also the performance of the shares of the corporation on the capital markets, where relevant;

(b) whether there was delay in payment of government portion of any declared dividend, if any, into the Consolidated Fund;

(c) any significant cases of fraud or losses and the underlying causes;

(d) any internal control weakness noted; and

(e) the general corporate performance indicating

(i) achievement against set targets and objectives; and

(ii) whether the finances of the body have been conducted with due regard to economy, efficiency and effectiveness having regard to the resources utilised.