Mine Health and Safety Act, 1996 (Act No. 29 of 1996)SchedulesSchedule 7 : Constitution of Mining Qualifications Authority20. Accounting |
| (1) | The executive officer is the accounting officer of the Authority. |
| (2) | The accounting officer is responsible for all moneys received and payments made by the Authority. |
| (3) | The financial year of the Authority ends on 31 March in each year. |
| (4) | The accounting officer must cause records to be kept in accordance with the Generally Accepted Accounting Principles that are necessary to represent fairly the state of affairs and business of the Authority and to explain the transactions and financial position of the Authority. |
| (5) | Annual financial statements must be prepared in respect of every financial year. The statement must consist of— |
| (a) | a balance sheet dealing with the state of affairs of the Authority; |
| (b) | a return of income received and expenses incurred by the Authority; and |
| (c) | a statement of cash flow information. |
| (6) | The books of account, statements of account and annual financial statements of the Authority must be audited annually by the Auditor-General. The Auditor-General must compile a report on the audit and submit a copy of it to the Minister and the chairperson of the Authority. |
| (7) | The executive officer of the Authority must supply each member of the Authority with a copy of the report of the Auditor-General. |
| (8) | As soon as practicable after the report of the Auditor-General has been submitted to the Minister in terms of subitem (6), the Minister must table it in Parliament. |
[Section 46(2)(b) provides that the Mining Qualifications Authority may administer and control its financial affairs.]