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Contents  

Long Title

Part I PRELIMINARY

Part II ESTABLISHMENT, INCORPORATION AND CONSTITUTION OF TOWN COUNCILS

Part III GENERAL PROVISIONS AS TO MEMBERS OF TOWN COUNCIL

Part IV FUNCTIONS AND POWERS OF TOWN COUNCIL

Part IVA LIFT UPGRADING WORKS

Part V PROCEEDINGS OF TOWN COUNCIL

Part VI FINANCIAL PROVISIONS

Part VIA INSPECTION AND OFFICIAL MANAGEMENT OF TOWN COUNCILS

Part VII MISCELLANEOUS PROVISIONS

THE SCHEDULE Repealed

Legislative History

Comparative Table

 
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On 14/12/2017, you requested the version in force on 14/12/2017 incorporating all amendments published on or before 14/12/2017. The closest version currently available is that of 01/05/2017.
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Audit
38.
—(1)  The accounts of a Town Council shall be audited by the Auditor-General or such other auditor as may be appointed annually by the Town Council with the approval of the Minister after the Minister has consulted the Auditor-General.
(2)  A person shall not be qualified for appointment as an auditor under subsection (1) unless he is an approved company auditor under the Companies Act (Cap. 50).
(3)  The remuneration of the auditor shall be paid out of the Town Council Fund.
(4)  The auditor shall, as soon as practicable after the accounts have been submitted for audit by a Town Council, send a report of his audit to the Town Council.
(5)  The auditor shall in his report state —
(a)
whether the financial statements show fairly the financial transactions and the state of affairs of the Town Council;
(b)
whether proper accounting and other records have been kept, including records of all assets of the Town Council whether purchased, donated or otherwise;
(c)
whether the receipts, expenditure, investment of moneys, and the acquisition and disposal of assets by the Town Council during the financial year have been in accordance with this Act; and
(d)
such other matters arising from the audit as he considers should be reported.
(6)  The auditor may at any other time submit such periodical and special reports to the Minister and the Town Council upon any matter arising out of the performance of his audit as may appear to him to be necessary.
(7)  The auditor or any person authorised by him is entitled at all reasonable times to full and free access to all accounting and other records relating, directly or indirectly, to the financial transactions of a Town Council.
(8)  The auditor or a person authorised by him may make copies of or extracts from any such accounting and other records.
(9)  The auditor may require any person to furnish him with such information in the possession of that person or to which that person has access as the auditor considers necessary for the purposes of his functions under this Act.
(10)  Any person who fails, without any reasonable cause, to comply with any requirement of the auditor under subsection (9) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.
(11)  The following must be given by a Town Council to the Minister within 6 months after the close of the financial year to which the accounts and financial statements relate, or such longer period as the Minister may in any particular case allow:
(a)
a copy of the audited accounts and financial statements of the Town Council, signed by the chairman of and the secretary to the Town Council;
(b)
a copy of the report made by the auditor.
(12)  The Minister must, as soon as practicable, cause a copy of the audited accounts and financial statements and of the auditor’s report mentioned in subsection (11) to be presented to Parliament.
(13)  Where the Auditor-General is not the auditor of a Town Council, a copy of the audited financial statements and any report made by the auditor must be forwarded to the Auditor-General at the same time they are submitted to the Minister under subsection (11).
(13A)  Within 30 days after a copy of the audited accounts and financial statements of a Town Council, and a copy of the auditor’s report, mentioned in subsection (11) are presented to Parliament, the Town Council must —
(a)
display them for public inspection in such places within the Town as the Town Council may direct; and
(b)
publish them at an online location accessible to residents of the housing estates within the Town.
(13B)  A Town Council which, without reasonable excuse, is persistently in default in relation to the requirement imposed by subsection (11), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.
(14)  A Town Council shall, as soon as practicable after the end of each financial year, submit to the Minister an annual report on the activities of the Town Council during that financial year and the Minister shall cause a copy of every such report to be presented to Parliament.
[37
History for Provision '38 Audit'.
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Right Arrow
pr37-.
05/08/1988
Formal Consolidation
05 August 1988
Act
12 of 1988

30/05/1997
Formal Consolidation
30 May 1997
1997 RevEd
 
pr38-.
01/07/2000
Formal Consolidation
01 July 2000
2000 RevEd
 
Compare versionsDiff

15/12/2004
Informal Consolidation
09 November 2004
Amended
Act 45 of 2004

15/08/2005
Informal Consolidation
15 August 2005
Amended
Act 23 of 2005

01/05/2017
Informal Consolidation
07 April 2017
Amended
Act 17 of 2017