13
CurrentAccounts and external audit
ScheduleProvisions applicable to subsidiaries
13 Accounts and external audit
(1)
A subsidiary must cause proper accounts to be kept of its financial affairs and financial statements to be prepared in respect of each financial year.
(2)
The accounts and financial statements must comply with—
(a)
the requirements of the Treasurer contained in its parent corporation's charter; and
(b)
any applicable instructions of the Treasurer issued under the Public
Finance and Audit Act 1987.
(3)
The
Auditor-General may at any time, and must in respect of each financial year, audit the accounts and financial statements of the subsidiary.
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