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25(1)The Sponsor Body must keep proper accounts and proper records in relation to them.
(2)The Sponsor Body must prepare a statement of accounts for each financial year in accordance with directions given to it by the Treasury.
(3)The directions that the Treasury may give under sub-paragraph (2) include, for example, directions as to—
(a)the content and form of the statement of accounts,
(b)the methods and principles to be applied in preparing it, and
(c)the additional information (if any) that is to be provided for the information of Parliament.
(4)The chief executive officer is to be the Sponsor Body’s accounting officer (but see paragraph 26).
(5)The accounting officer is to have, in relation to the Sponsor Body’s accounts and finance, the responsibilities that are from time to time specified by the Sponsor Body.
(6)The reference in sub-paragraph (5) to responsibilities includes—
(a)responsibilities in relation to the signing of accounts;
(b)responsibilities for the propriety and regularity of the Sponsor Body’s finances;
(c)responsibilities for the economy, efficiency and effectiveness with which the Sponsor Body’s resources are used;
(d)responsibilities in relation to the appointment of the Delivery Authority’s accounting officer.
(7)The Sponsor Body must send a copy of the statement of accounts for a financial year to the Comptroller and Auditor General as soon as practicable after the end of that year.
(8)The Comptroller and Auditor General must—
(a)examine, certify and report on the statement of accounts, and
(b)send a copy of the certified statement and of the report to the Sponsor Body as soon as practicable.
(9)The Sponsor Body must, in respect of each financial year, lay before Parliament a copy of the certified statement and report sent under sub-paragraph (8)(b).
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