SCHEDULES
SCHEDULE 14 Strategic Rail Authority
Part II Funding
Accounts and audit
11
1
The Authority shall—
a
keep proper accounts and proper accounting records, and
b
prepare in respect of each financial year a statement of accounts giving a true and fair view of the state of affairs and the income and expenditure of the Authority.
2
Every statement of accounts prepared under sub-paragraph (1)(b) shall comply with any requirement which the Secretary of State has, with the approval of the Treasury, notified in writing to the Authority and which relates to—
a
the information to be contained in the statement,
b
the manner in which that information is to be presented, or
c
the methods and principles according to which the statement is to be prepared.
12
1
The accounts of the Authority relating to each financial year shall be audited by the Comptroller and Auditor General who shall send a copy of his report on them to the Authority; and for this purpose “accounts” includes the statement of accounts prepared under paragraph 11(1)(b) in respect of the financial year.
2
The Authority shall send—
a
a copy of the accounts audited under sub-paragraph (1), and
b
the report made on them by the Comptroller and Auditor General,
to the Secretary of State who shall lay a copy of each of them before each House of Parliament.