Regulation 18 Accounts and audit

(1)

The joint central committee must—

(a)

keep proper accounts and proper records in relation to the accounts; and

(b)

as soon as practicable after the end of each yearly period ending on 31st March—

(i)

prepare a statement of accounts in respect of that period;

(ii)

send a copy of the statement of accounts to an independent auditor for auditing; and

(iii)

provide a copy of the statement of accounts, and the independent auditor’s report on those accounts, to the Scottish Ministers.

(2)

In this regulation, “independent auditor” means a person who—

(a)

is eligible for appointment as a statutory auditor under Chapter 2 of Part 42 of the Companies Act 2006^f1; and

(b)

if the appointment were an appointment as a statutory auditor, would not be prohibited from acting by section 1214 of that Act (independence requirement).

Annotations

Footnotes

f1: 2006 c.46; Chapter 2 of Part 42 was relevantly amended by regulations 4, 5 and 6 of the Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494).