Housing Developers (Control and Licensing) Act · s 16

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16.
Appointment of auditors
(1) Every licensed housing developer shall appoint annually an auditor, who shall be approved by the Board, whose duties shall be to make a report to the Board upon the annual balance sheet and accounts of the housing developer. The auditor shall in every such report state in his opinion whether —
(a) the balance sheet is fully, fairly and properly drawn up;
(b) the balance sheet exhibits a true and correct statement of the licensed housing developer’s affairs;
(c) the accounting and records examined by him have been properly kept; and
(d) if the auditor has called for any information from the licensed housing developer, that information has been satisfactory.
(2) If a licensed housing developer fails to appoint an auditor under subsection (1) or at any time fails to fill a vacancy for an auditor, the Board shall have power to appoint an auditor and shall fix the remuneration to be paid by the licensed housing developer to that auditor.

Housing Developers
(Control and Licensing)
(3) Every auditor shall have the right of access at all times to the accounting and other records of the licensed housing developer and shall be entitled to require such information as he desires for the purpose of audit from the licensed housing developer or from any other person who is in possession of or who could give such information.
(4) No person having an interest in the business of a licensed housing developer, whether as a shareholder or otherwise, and no director, officer, employee or agent of that licensed housing developer shall be eligible for appointment as the auditor to that licensed housing developer.

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s 16Appointment of auditors

(1)

Every licensed housing developer shall appoint annually an auditor, who shall be approved by the Board, whose duties shall be to make a report to the Board upon the annual balance sheet and accounts of the housing developer. The auditor shall in every such report state in his opinion whether —

(a)

the balance sheet is fully, fairly and properly drawn up;

(b)

the balance sheet exhibits a true and correct statement of the licensed housing developer’s affairs;

(c)

the accounting and records examined by him have been properly kept; and

(d)

if the auditor has called for any information from the licensed housing developer, that information has been satisfactory.

(2)

If a licensed housing developer fails to appoint an auditor under subsection (1) or at any time fails to fill a vacancy for an auditor, the Board shall have power to appoint an auditor and shall fix the remuneration to be paid by the licensed housing developer to that auditor.

Housing Developers

(Control and Licensing)

(3)

Every auditor shall have the right of access at all times to the accounting and other records of the licensed housing developer and shall be entitled to require such information as he desires for the purpose of audit from the licensed housing developer or from any other person who is in possession of or who could give such information.

(4)

No person having an interest in the business of a licensed housing developer, whether as a shareholder or otherwise, and no director, officer, employee or agent of that licensed housing developer shall be eligible for appointment as the auditor to that licensed housing developer.