21. Audit of accounts

(1)

The accounts of the Universiti shall be audited by the Auditor

General or such other auditor as may be appointed annually by the Minister after consultation with the Auditor General.

(2)

A person shall not be qualified for appointment as an auditor under subsection (1) unless he is an approved company auditor under the

Companies Act (Chapter 39).

(3)

The remuneration of the auditor shall be paid out of the funds of the Universiti.

(4)

The auditor or any person authorised by him shall be entitled at all reasonable times to full and free access to all accounting and other records relating, directly or indirectly, to the financial transactions of the Universiti and may make copies of, or extracts from, any such accounting and other records.

(5)

The auditor shall in his report state —

(a)

whether the financial statements show fairly the financial transactions and the state of affairs of the Universiti;

(b)

whether proper accounting and other records have been kept, including records of all assets of the Universiti whether purchased, donated or otherwise;

(c)

whether receipts, expenditure and investment of moneys and the acquisition and disposal of assets by the Universiti during the financial year were in accordance with the provisions of this Act; and

Universiti Teknologi Brunei

(d)

such other matters arising from the audit as he considers necessary.

(6)

The auditor shall, as soon as practicable after the accounts have been submitted for audit, send a report of his audit to the Council and shall also submit such periodical and special reports to the Minister and to the

Council as may appear to him to be necessary or as the Minister or the

Council may require.

Report

Read on from s 22

21. Audit of accounts

Terms defined in s 2

Schedules