Postal Services Act, 1998 (Act No. 124 of 1998)Accounting Separation Regulations for Reserved Postal Services16. Procedure Manual Content |
| 1) | The Operator's Procedure Manual must be sufficiently detailed to enable the Authority or an independent auditor to reasonably interpret the methodologies that have been used in preparing the RFS. |
| 2) | The Operator's Procedure Manual must also enable both the Authority and the auditor to verify that: |
| a) | the methodologies actually applied by the Licensed Operator are consistent with those defined in their respective Procedure Manuals, and |
| b) | the results from the application of the methodologies are reconcilable to Corporate Entity statutory financial statements. |
| 3) | The Operator's Procedure Manual must contain a comprehensive and complete written statement of the policies, principles and methodologies that the Licensed Operator will follow in preparing its RFS required pursuant to these regulations. |
| 4) | Any changes to the Operator's Procedures Manual proposed by the Licensed Operator must be filed with the Authority and are subject to the Authority's approval prior to implementation. |
| 5) | Proposed changes should be accompanied by a statement of the reasons for the change and estimates of the financial impact of the proposed change, where relevant and reasonably practicable, should be estimated. |
| 6) | The Authority may request the Licensed Operator to provide further information for the purposes of its consideration of the proposed change. |
| 7) | The Authority will consider the proposed changes and notify the Licensed Operator of its approval or non-approval within fifty (50) days of having received notification of the proposed change. |
| 8) | The proposed amendments will be deemed approved if the Authority does not provide such notification within the said two (2) months. |
| 9) | Where the Authority does not approve the proposed change, the Authority must provide written explanations for such non-approval. |