(1)In Schedule 2 to the [1998 c. 18.] Audit Commission Act 1998 (accounts subject to audit) in paragraph 1 (bodies to whose accounts section 2 applies) after paragraph (b) there shall be inserted—
“(bb)the Greater London Authority;
(bc)a functional body;
(bd)the London Pensions Fund Authority;”.
(2)Schedule 8 to this Act (which makes further amendments of the [1998 c. 18.] Audit Commission Act 1998) shall have effect.
(1)For each financial year the Authority shall prepare a summary statement of accounts.
(2)The summary statement of accounts shall be in respect of the Authority, the functional bodies and the London Pensions Fund Authority.
(3)Subsection (1) above is without prejudice to any other duty of the Authority, a functional body or the London Pensions Fund Authority to prepare accounts or statements of accounts.
(4)Section 14 of the [1998 c. 18.] Audit Commission Act 1998 (inspection of statements of accounts and auditors' reports) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to a statement of accounts prepared by the Authority under regulations under section 27 of that Act.
(5)Sections 15 to 24 of the [1998 c. 18.] Audit Commission Act 1998 (public inspection etc and action by the auditor, and prevention of unlawful expenditure) shall not apply in relation to a summary statement of accounts required to be prepared under this section.
(6)Section 27 of the [1998 c. 18.] Audit Commission Act 1998 (accounts and audit regulations) shall apply in relation to a summary statement of accounts required to be prepared under this section as it applies in relation to accounts or statements of accounts.
(1)A body to which this section applies shall, at the request of the Mayor, provide the Authority with such information relating to any accounts or statement of accounts of the body as may be specified or described in the request.
(2)The bodies to which this section applies are—
(a)each of the functional bodies; and
(b)the London Pensions Fund Authority.
(3)The information shall be provided in such form and manner, and within such time, as may be specified in the request.
(4)The information that may be requested under subsection (1) above is such information as may be required for the purpose of discharging the functions of the Authority under or by virtue of section 134 above.