691Financial management duties of Regulator

691 Financial management duties of Regulator The Regulator must— (a) ensure its operations are carried out efficiently, effectively and economically; and

(b) keep proper books and records in relation to the Fund and other money received by the Regulator; and (c) ensure expenditure is made from the Fund for lawful purposes only and, as far as possible, that reasonable value is obtained for money expended from the Fund; and (d) ensure its procedures, including internal control procedures, afford adequate safeguards with respect to— (i) the correctness, regularity and propriety of payments made from the Fund; and (ii) receiving and accounting for payments made to the Fund; and (iii) prevention of fraud or mistake; and (e) take any action necessary to ensure the preparation of accurate financial statements in accordance with Australian Accounting Standards for inclusion in its annual report; and (f) take any action necessary to facilitate the audit of the financial statements under this Law; and (g) arrange for any further audit by a qualified person of the books and records kept by the Regulator if directed to do so by the