SCHEDULES
SCHEDULE 1THE SINGLE FINANCIAL GUIDANCE BODY
Reports and accounts
I114
1
As soon as reasonably practicable after the end of each financial year, the single financial guidance body must send to the Secretary of State a report on the exercise of the single financial guidance body's functions during that year.
2
The report must include—
a
a report on the proceedings of the single financial guidance body during the year, and
b
such other information as the Secretary of State may direct.
3
On receiving the report, the Secretary of State must lay it before Parliament.
4
The single financial guidance body must—
a
keep proper accounting records, and
b
prepare a statement of accounts in respect of each financial year.
5
The statement must be in such form as the Secretary of State may direct.
6
The single financial guidance body must send a copy of the statement of accounts to—
a
the Secretary of State, and
b
the Comptroller and Auditor General,
within the time period directed by the Secretary of State.
7
The Comptroller and Auditor General must—
a
examine, certify and report on the statement of accounts, and
b
send a copy of the report to the Secretary of State.
8
The Secretary of State must lay before Parliament the statement of accounts and the report of the Comptroller and Auditor General.
9
In this paragraph, “financial year” means—
a
the period beginning with the day on which this Schedule comes into force and ending with the following 31st March, and
b
every subsequent period of 12 months ending with 31st March.