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New Schedule—(Matters To Be Ex- Pressly Stated In Auditors' Report)

Volume 464: debated on Tuesday 3 May 1949

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1. Whether they have obtained all the information and explanations which to the best of their knowledge and belief were necessary for the purposes of their audit.

2. Whether, in their opinion, proper books of account have been kept by the Corporation, so far as appears from their examination of those books, and proper returns adequate for the purposes of their audit have been received in respect of books of account not examined by them.

3. Whether the statement of the accounts of the Corporation prepared under Part IV of this Act is in agreement with the said books of account and returns, and whether, in their opinion and to the best of their information and according to the explanations given them, the said statement gives a true and fair view of the state of the Corporation's affairs as at the end of their financial year, and of the profit or loss for their financial year.

4. Whether, in their opinion, the consolidated statement of accounts prepared by the Corporation under Part IV of this Act gives a true and fair view of the state of affairs and profit or loss of the Corporation and the publicly-owned companies dealt with thereby.

Brought up, and read the first time.

I beg to move, "That the Schedule be read a Second time."

The Schedule is consequential upon the Amendment to Clause 38, page 42, line 3. It arises from certain discussions which we had in Standing Committee, and it sets out certain matters which must appear in the auditors' report. As the Corporation does not strictly come under the Companies Act, the matters which the auditors must report do not automatically follow the Companies Act. We were anxious, nevertheless, that their report should contain the various matters which the auditors have to report under the Companies Act and, therefore, we put in this Schedule.

Schedule read a Second time and added to the Bill.