Mauritius
Statutory Bodies (Accounts and Audit) Act
Act 2 of 1972
- Commenced on 1 July 1972
- [This is the version of this document at 30 June 2017.]
1. Short title
This Act may be cited as the Statutory Bodies (Accounts and Audit) Act.2. Interpretation
In this Act—"audit" has the same meaning as in the Financial Reporting Act;"auditor" means a person appointed as such under section 5;"Board" means the managing committee of a statutory body;"capital project" means an intervention relating to acquisition or preservation, or to both acquisition and preservation, of non-financial assets for meeting defined objectives and consisting of a set of interrelated activities to be carried out within a specified budget and a time-schedule;"financial statements", in relation to a financial year—(a)means—(i)a statement of financial position;(ii)a statement of financial performance;(iii)a statement of changes in net assets or equity;(iv)a statement of cash flow; and(v)in respect of a statutory body specified in Part I of the Second Schedule, a statement of comparison of annual estimates and actual amounts; and(b)includes notes, comprising a summary of significant accounting policies and other explanatory notes;"financial year" has the same meaning as in section 2A of the Finance and Audit Act;"IFAC" has the same meaning as in the Financial Reporting Act;"Minister" means the Minister to whom responsibility for the statutory body concerned is assigned;"qualified auditor" means—(a)an auditor licensed under the Financial Reporting Act; and(b)the Director of Audit;"statutory body" means a body specified in the First Schedule.[S. 2 amended by s. 83(1) of Act 45 of 2004 w.e.f. 20 January 2005; s. 22(a)(i) of Act 1 of 2009 w.e.f. 1 July 2009; s. 22(a)(ii) of Act 1 of 2009 w.e.f. 1 August 2010 in respect of the financial year 2011 and in respect of every subsequent financial year; s. 19(a)(i) of Act 20 of 2009 w.e.f. 19 December 2009; s. 19(a)(ii) of Act 20 of 2009 w.e.f. 1 August 2010 in respect of the financial year 2011 and in respect of every subsequent financial year; s. 17(a) of Act 10 of 2010 w.e.f. 1 January 2011; s. 26(a) of Act 26 of 2013 w.e.f. 1 January 2014; s. 17(4)(a) of Act 1 of 2015 w.e.f. 1 January 2016.]3. Powers of Minister
The Minister may give to a Board directions of a general character as to the performance by the Board of its functions and duties as appear to the Minister to be requisite in the public interest, and the Board shall comply with those directions.3A. Interest in agency or body of persons restricted
4. Accounting records
Every statutory body shall cause to be kept proper accounting records for the purpose of recording all the transactions relating to its undertakings, funds, activities and property.[S. 4 repealed and replaced by s. 22(c) of Act 1 of 2009 w.e.f. 16 April 2009.]4A. Strategic plan
4B. Annual estimates
4C. Application of surplus amount
Where the financial statements of a statutory body show an operating surplus or accumulated revenue reserve arising from special circumstances, the Board may, with the approval of the Minister, transfer into its reserve account such amount as it may deem appropriate and remit the remaining amount into the Consolidated Fund.[S. 4C inserted by s. 51(a) of Act 18 of 2016 w.e.f. 7 September 2016.]5. Auditor
6. Powers of auditor
6A. Annual report
7. Submission of annual report
7A. Disciplinary action for non-compliance
7B. ***
[S. 7B inserted by s. 52(e) of Act 10 of 2017 w.e.f. 1 July 2017; repealed by s. 66 of Act 11 of 2018 w.e.f. 1 July 2018.]8. Auditor's report
Every auditor shall report to the Board whether—9. Board's report
9A. This Act to prevail
In the event of any conflict or inconsistency between this Act and any other enactment establishing or setting up the statutory body, this Act shall prevail.[S. 9A inserted by s. 22(j) of Act 1 of 2009 w.e.f. 1 January 2011.]10. Regulations
The Minister may—11. ***
12. Transitional provisions
Every statutory body having an accounting period which ends on 31 December shall, not later than 31 October 2015, in respect of the period of 18 months ending on 30 June 2017, submit to the Minister an estimate of its income and expenditure for his approval.[S. 12 inserted by s. 17 (4) (d) of Act 1 of 2015 w.e.f. 1 January 2015.]History of this document
30 June 2017 this version
Consolidation
01 July 1972
Commenced