Accounts of governing bodyN.I.
[F119.—(1) The governing body of an institution of further education shall—
(a)keep proper accounts and proper records in relation to the accounts; and
(b)prepare a statement of accounts in respect of each financial year.
(2) The statement of accounts shall—
(a)be in such form; and
(b)contain such information,
as the Department may, with the approval of the Department of Finance and Personnel, direct.
(3) The governing body shall, within such period after the end of each financial year as the Department may direct, send copies of the statement of accounts relating to that year to—
(a)the Department; and
(b)the Comptroller and Auditor General for Northern Ireland.
(4) The Comptroller and Auditor General shall—
(a)examine, certify and report on every statement of accounts sent to him by the governing body under this Article; and
(b)send a copy of his report to the Department.
(5) The Department shall lay a copy of the statement of accounts and of the Comptroller and Auditor General's report before the Assembly.
(6) The financial year of the governing body shall be the period of 12 months ending on 31st July.
(7) The Department may by order amend paragraph (6).
(8) The Department shall have right of access to the books, accounts and records of the governing body]
F1Art. 19 substituted (9.12.2008 with effect as mentioned in art. 2(3) of the amending Order) by Institutions of Further Education (Public Sector Audit) Order (Northern Ireland) 2008 (S.R. 2008/511), art. 2(2)