Financial Management of Parliament Act, 2009 (Act No. 10 of 2009)Chapter 5 : Financial Management30. Asset and liability management |
| (1) | The Accounting Officer is responsible for managing— |
| (a) | Parliament’s assets, including safeguarding and maintaining those assets; and |
| (b) | Parliament’s liabilities. |
| (2) | For the purposes of subsection (1), the Accounting Officer must ensure that— |
| (a) | Parliament maintains an accounting and information system that accounts for its assets and liabilities; |
| (b) | Parliament’s assets and liabilities are valued in accordance with standards of generally recognised accounting practice; and |
| (c) | Parliament maintains a system of internal control of assets and liabilities, including a register of assets and liabilities. |