7(1)It shall be the duty of an Education Action Forum—E+W
(a)to keep proper accounts and proper records in relation to the accounts,
(b)to prepare in respect of each financial year of the Forum a statement of accounts, and
(c)to send copies of the statement to the Secretary of State and to the Comptroller and Auditor General before the end of the month of August next following the financial year to which the statement relates.
(2)The statement of accounts shall comply with any directions given by the Secretary of State as to—
(a)the information to be contained in it,
(b)the manner in which the information contained in it is to be presented, or
(c)the methods and principles according to which the statement is to be prepared.
(3)The Comptroller and Auditor General shall examine, certify and report on each statement received by him in pursuance of this paragraph and shall lay copies of each statement and of his report before each House of Parliament.
(4)In this paragraph “financial year” means the period beginning with the date on which the Forum is established and ending with the 31st March following that date, and each successive period of twelve months.