Part IIIFinancial Provisions
Chapter VFinancial Administration, Accounts and Audit
Accounts and audit
134Summary statement of accounts of Authority and other bodies
1
For each financial year the Authority shall prepare a summary statement of accounts.
2
The summary statement of accounts shall be in respect of the Authority, the functional bodies and the London Pensions Fund Authority.
3
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.
4
Section 14 of the [1998 c. 18.] Audit Commission Act 1998 (inspection of statements of accounts and auditors' reports) 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 regulations under section 27 of that Act.
5
Sections 15 to 24 of the [1998 c. 18.] Audit Commission Act 1998 (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.
6
Section 27 of the [1998 c. 18.] Audit Commission Act 1998 (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 accounts or statements of accounts.