Medical Schemes Act, 1998 (Act No. 131 of 1998)RegulationsRegulations in terms of the Medical Schemes ActChapter 6 : Administrators of medical schemes20. Appointment of auditor |
An administrator must appoint an auditor who must examine the accounting records and annual financial statements of the administrator in accordance with the South African auditing standards and satisfy himself or herself that—
| a) | the accounting records comply with the requirements of the Act and these regulations; and |
| b) | that the annual financial statements are in agreement with the accounting records and properly drawn up to fairly present the financial position, changes in equity, results of operations and cash flows of the administrator in accordance with generally accepted accounting practice and in the manner required by the Act and these regulations. |