Perishable Products Export Control Act, 1983 (Act No. 9 of 1983)18. Accounts and auditing |
| (1) | The board shall keep proper account of all moneys received by it and of all payments made by it. |
| (2) | The board shall as soon as possible after the end of each financial year prepare statements of account and a balance sheet showing in appropriate detail the moneys received and the expenditure incurred by it during, and its assets and liabilities as at the end of, that financial year. |
| (3) | On or before 31 December of each year the board shall approve a detailed estimate of its proposed income and expenditure for the ensuing year. |
| (4) | The board shall not incur any expenditure except in accordance with an estimate of expenditure approved in terms of subsection (3). |
| (5) | The board may, during the course of a financial year, approve supplementary estimates of expenditure for that year. |
| (6) | The board shall open accounts with banking institutions and may arrange for bank overdrafts. |
| (7) | All expenditure incurred by the board in the performance of its functions in terms of this Act or the regulations shall be met from moneys in any such account and, if such moneys are insufficient, the reserve fund established under section 11(f). |
| (8) | The board may direct that after payment of such expenditure the reserve fund be credited with any surplus or part thereof, on an account referred to in subsection (6). |
| (9) | If the board does not so direct or directs that a portion only of the said surplus be credited to the said reserve fund, such surplus or the balance thereof, as the case may be, shall be refunded to the exporters who paid the levy imposed during the year concerned, in such a manner that each such exporter receives an amount which bears the same ratio to the total amount to be refunded as the total amount of the levy paid by him bears to the total amount of the levy paid during that year by all exporters. |
| (10) | The board shall cause its books and accounts to be audited annually by a person registered as a public accountant and auditor under the Public Accountants' and Auditors' Act, 1951 (Act No. 51 of 1951), and appointed by the board. |
| (11) | The board shall produce and lay before the auditor all books and accounts of the board with all vouchers in support thereof, and all books, papers and writings relating thereto which are in its possession or under its control. |
| (12) | The auditor shall disallow any payment made without being authorized by the board, and report the disallowance to the board. |
| (13) | The expenses of or incidental to any audit shall be borne by the board. |