National Heritage Act 1983

12 (1) The Commission shall keep proper accounts and proper records in relation to them.

(2) The Commission shall prepare a statement of accounts in respect of each financial year.

(3) The statement shall give a true and fair view of the state of the Commission's affairs at the end of the financial year and of the Commission's income and expenditure in the financial year.

(4) The statement shall—

(a) be prepared within such period as the Secretary of State may direct; and

(b) comply with any directions given by the Secretary of State with the Treasury's consent as to the information to be contained in the statement, the manner in which the information is to be presented or the methods and principles according to which the statement is to be prepared.

(5) The accounts (including any statement prepared under this paragraph) shall be audited by persons appointed in respect of each financial year by the Secretary of State.

(6) No person shall be qualified to be appointed auditor under this paragraph unless he is—

(a) a member of a body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 161(1)(a) of the [1948 c. 38.] Companies Act 1948 ; or

(b) a member of the Chartered Institute of Public Finance and Accountancy ;

but a firm may be so appointed if each of its members is qualified to be so appointed.

(7) In this paragraph "financial year" means the period commencing with the day of the Commission's establishment and ending with the second 31 March following that day, and each successive period of 12 months.