36Financial management duties of ONRSR

36 Financial management duties of ONRSR

36 Financial management duties of ONRSR

ONRSR 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 ONRSR; and

(c) ensure expenditure is made from the Fund for lawful purposes only and, as far as possible, 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 those financial statements under this Law; and

(g) arrange for any further audit by a qualified person of the books and records kept by ONRSR in relation to the Fund, if directed to do so by the responsible Ministers.