Intellectual Property Rights from Publicly Financed Research and
R 385
Government Employees Pension Law, 1996Annexure 1 : Government Employees Pension Law, 199613. Reports of auditors |
| (1) | The auditors appointed under section 11 shall within a period of six months after the end of the financial year in question prepare a report on the annual financial statements of the Fund. |
| (2) |
| (a) | A report in terms of subsection (1) shall be submitted to the Board not later than six months after the end of the financial year concerned, and shall state separately in respect of each of the following matters whether in the auditor's opinion— |
| (i) | the annual financial statements fairly present the financial position and the results obtained by the Fund in accordance with generally accepted accounting practice applied on a basis consistent with that of the preceding year; |
| (ii) | the information furnished in terms of sections 9 and 10 is fair in all material respects and, if applicable, on a basis consistent with that of the preceding year; |
| (iii) | the transactions of the Fund that had come to the auditor's notice in the course of his or her examination were executed in accordance with the applicable laws and instructions; and |
| (iv) | the transactions which had come to his or her attention during auditing were in all material respects in accordance with the mandatory functions of the Fund determined by law or otherwise. |
| (b) | The Board shall submit such report together with its comments thereon to the Minister within 30 days of receipt thereof. |
| (3) | The auditor shall report to the Board and the Minister the results of any investigation carried out under section 12(2)(b) or (c). |
| (4) | The auditor shall draw attention to any other matter falling within the scope of the auditor's examination which, in his or her opinion, should in the public interest be brought to the notice of Parliament. |
