sec.33Audit report

sec.33 Audit report

An auditor appointed to audit a trust account or a funeral benefit business trust fund by a registered corporation must give to the corporation a report, in duplicate, of the result of the audit signed by the auditor. Maximum penalty—1 penalty unit. The report must state the following information— the name of the corporation; the addresses of the places of business to which the audit report relates; the period covered by the audit; the name of the trust account; the name of the financial institution at which the trust account was kept; whether the auditor also audited the general accounts of the corporation; whether the trust account or funeral benefit business trust fund has, in the auditor’s opinion, been properly kept and is in order and correct; whether the trust account or an individual contributor’s account has been overdrawn; particulars of all money and investments held in trust by the corporation and reconciled with the contributors’ accounts and other accounts maintained in the trust account ledger on the last day of the audit period; a reconciliation of the trust account cash book with the financial institution’s balance at that date; for a part 4 corporation— whether or not the corporation has at all times complied with section 40 of the Act ; and whether or not the investments held by the corporation at the end of the relevant financial year and set out in the statement mentioned in section 22 (c) (ii) have been verified and are correctly shown; the number of trust receipt books and the serial numbers of the trust receipt forms in the books in the possession of the corporation during the period to which the audit relates; particulars of— the used trust receipt forms audited; and the unused trust receipt forms on hand at the end of the last day of the audit period; whether the auditor asked the corporation for permission to examine the general accounts of the corporation and was refused; the date the trust account was examined under section 34 . (sec.33-ssec.1) An auditor appointed to audit a trust account or a funeral benefit business trust fund by a registered corporation must give to the corporation a report, in duplicate, of the result of the audit signed by the auditor. Maximum penalty—1 penalty unit. (sec.33-ssec.2) The report must state the following information— the name of the corporation; the addresses of the places of business to which the audit report relates; the period covered by the audit; the name of the trust account; the name of the financial institution at which the trust account was kept; whether the auditor also audited the general accounts of the corporation; whether the trust account or funeral benefit business trust fund has, in the auditor’s opinion, been properly kept and is in order and correct; whether the trust account or an individual contributor’s account has been overdrawn; particulars of all money and investments held in trust by the corporation and reconciled with the contributors’ accounts and other accounts maintained in the trust account ledger on the last day of the audit period; a reconciliation of the trust account cash book with the financial institution’s balance at that date; for a part 4 corporation— whether or not the corporation has at all times complied with section 40 of the Act ; and whether or not the investments held by the corporation at the end of the relevant financial year and set out in the statement mentioned in section 22 (c) (ii) have been verified and are correctly shown; the number of trust receipt books and the serial numbers of the trust receipt forms in the books in the possession of the corporation during the period to which the audit relates; particulars of— the used trust receipt forms audited; and the unused trust receipt forms on hand at the end of the last day of the audit period; whether the auditor asked the corporation for permission to examine the general accounts of the corporation and was refused; the date the trust account was examined under section 34 .