General and Further Education and Training Quality Assurance Act, 2001 (Act No. 58 of 2001)Chapter 2 : Establishment and Functions of Council15. Audit and annual report |
| 1) | The statements of account and balance sheet of the Council must be audited at the end of each financial year by a person registered as an auditor in terms of the Auditing Profession Act, 2005 (Act No. 26 of 2005), and appointed by the Council with the approval of the Auditor-General. |
| 2) | The Council must not later than five months after the end of each financial year submit to the Minister an annual report in such form as ‘the Minister may determine on the performance of its functions during that financial year, including an audited balance sheet and a statement of income and expenditure. |
| 3) | The Minister must table the annual report, including the balance sheet and statement of income and expenditure referred to in subsection (2), in Parliament within one month after receipt thereof, if Parliament is then sitting, and if Parliament is not then sitting, within one month after the commencement of the next sitting. |