Transport (London) Act 1969

10 Accounts of Executive

(1) The Executive shall—

(a) cause proper accounts and other records in relation to their business to be kept; and

(b) prepare an annual statement of accounts in respect of such accounting period, in such form, and containing such particulars, compiled in such manner, as the Council may from time to time direct.

(2) The accounts of the Executive shall be audited by an auditor or auditors to be appointed annually by the Council, and any person so appointed as auditor shall be either the district auditor or some other person who is a member, or is a firm in Scotland each of the partners wherein is a member, of one or more of the following bodies namely—

• the Institute of Chartered Accountants in England and Wales;

• the Institute of Chartered Accountants of Scotland ;

• the Association of Certified and Corporate Accountants ;

• the Institute of Chartered Accountants in Ireland ;

• the Institute of Municipal Treasurers and Accountants ;

• any other body established in the United Kingdom who are—

  (a)

  a body of accountants, and

  (b)

  for the time being recognised for the purposes of section 161(1)(a) of the [1948 c. 38.] Companies Act 1948 by the Board of Trade ;

and any auditor so appointed shall be entitled to require from any officer of the Executive or of any subsidiary of theirs such books, deeds, contracts, accounts, vouchers, receipts and other documents, and such information and explanations, as may be necessary for the performance of his duties.