SCHEDULES

SCHEDULE 8The Radio Authority: Supplementary Provisions

Accounts and audit

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1

The Authority shall keep proper accounts and proper records in relation to the accounts, and shall prepare in respect of each financial year a statement of accounts in such form as the Secretary of State may direct with the approval of the Treasury.

2

The accounts of the Authority shall be audited by auditors to be appointed by the Authority with the approval of the Secretary of State.

3

A person shall not be qualified to be appointed as an auditor in pursuance of sub-paragraph (2) unless he is a member of one or more of the following bodies—

  • the Institute of Chartered Accountants in England and Wales;

  • the Institute of Chartered Accountants of Scotland;

  • the Chartered Association of Certified Accountants;

  • the Institute of Chartered Accountants in Ireland;

  • any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 389(1)(a) of the [1985 c. 6.] Companies Act 1985 by the Secretary of State,

but a Scottish firm may be so appointed if each of the partners in the firm is qualified to be so appointed.

4

The Authority shall at all reasonable times upon demand made by the Secretary of State or by any persons authorised by him in that behalf—

a

afford to him or them full liberty to examine the accounts of the Authority; and

b

furnish him or them with all forecasts, estimates, information and documents which he or they may require with respect to the financial transactions and commitments of the Authority.