49.
| (1) The Board shall cause proper accounts of its income and expenditure and of all its other trans- actions to be kept in a form which shall conform to the best commercial standards, and shall prepare an annual statement of accounts and statistics relating to its business in such form and containing such particulars as the Minister, with the concurrence of the Minister of Finance, may from time to time specify The financial year of the Board shall commence on such date as may be determined by the Board. |
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| (2) The accounts of the Board for each financial year shall be audited by the Auditor-General. For the purpose of assisting him in the audit of such accounts, the Auditor-General may employ the service: of any qualified auditor or auditors who shall act under his direction and control. |
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| (3) For the purpose of meeting the expenses incurred by him in the audit of the accounts of the Board, the Auditor-General shall be paid by the Board such remuneration as the Minister may, with the concurrence of the Minister of Finance, determine. Any remuneration received from the Board by the Auditor General shall, after deducting any sums paid by him to any qualified auditor employed by him for the purposes of such audit, be credited to the Consolidated Fund of Ceylon. |
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| (4) The Auditor-General shall examine the accounts of the Board and furnish a report-
| | (a) stating whether he has or has not obtained al. the information and explanations required by him . | | |
| | (b) stating whether the accounts referred to in the report are properly drawn up so as to exhibit a true and fair view of the affairs of the Board; and | | |
| | (c) drawing attention to any item in the accounts which in his opinion may be of interest to the Senate and the House of Representatives in any examination of the activities and accounts of the Board. | | |
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| (5) The Auditor-General shall transmit his report to the Board. |
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| (6) For the purposes of this section, the expression qualified auditor " means-
| | (a) an individual who, being a member of the Institute of Chartered Accountants of Ceylon, possesses a certificate to practise as an Accountant issued by the Council of that Institute; or | | |
| | (b) a firm of Chartered Accountants each of the partners of which, being a member of that Institute, possesses a certificate to practise as an Accountant issued by the Council of that Institute. | | |
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Sri Lanka Consolidated Acts