SCHEDULE 1COMMISSION FOR TERTIARY EDUCATION AND RESEARCH
I115Accounts and audit
1
The Commission must—
I2a
keep proper accounts and proper records in relation to them, and
b
prepare a statement of accounts in respect of each financial year in accordance with directions given by the Welsh Ministers.
2
The directions may make provision as to—
a
the information to be contained in the statement;
b
the manner in which the information is to be presented;
c
the methods and principles according to which the statement is to be prepared;
d
additional information that is to accompany the statement.
3
No later than 31 August after the end of each financial year the Commission must submit its statement of accounts to—
a
the Auditor General for Wales, and
b
the Welsh Ministers.
4
The Auditor General for Wales must examine, certify and report on the statement of accounts.
5
The Auditor General for Wales must, before the expiry of the 4-month period, lay before Senedd Cymru—
a
a copy of the certified statement and report, or
b
if it is not reasonably practicable to do so, a statement to that effect, which must include reasons as to why this is the case.
6
Where a statement has been laid under sub-paragraph (5)(b), the Auditor General must lay a copy of the certified statement and report before Senedd Cymru as soon as reasonably practicable after the expiry of the 4-month period.
7
In sub-paragraphs (5) and (6), “the 4-month period” means the period of 4 months beginning with the day on which the statement of accounts is submitted to the Auditor General for Wales under sub-paragraph (3).