For each financial year the Authority shall prepare a summary statement of accounts.

The summary statement of accounts shall be in respect of the Authority, the functional bodies and the London Pensions Fund Authority.

Subsection (1) above is without prejudice to any other duty of the Authority, a functional body or the London Pensions Fund Authority to prepare accounts or statements of accounts.

F3Section 25 of the Local Audit and Accountability Act 2014 (inspection of statements of accounts etc) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to a statement of accounts prepared by the Authority under F4section 3(3) of that Act.

F5Sections 26 to 31 of the Local Audit and Accountability Act 2014, and Schedule 8 to that Act (public inspection etc and action by the auditor, and prevention of unlawful expenditure) shall not apply in relation to a summary statement of accounts required to be prepared under this section.

F1Section 32 of the Local Audit and Accountability Act 2014 (accounts and audit regulations) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to F2... statements of accounts.