15 Accounts and audit

15  Accounts and audit

(1)     It shall be the duty of the CAA—

(a)     to keep proper accounts and proper records in relation to the accounts;

(b)     to prepare in respect of each accounting year a statement of accounts, in such form as the Secretary of State may direct with the approval of the Treasury, showing the state of affairs and the profit or loss of the CAA; and

[(c)     as soon as the accounts kept and statement prepared have been audited in accordance with the following subsection, to send to the Secretary of State a copy of

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