sec.36Financial management duties of ONRSR

sec.36 Financial management duties of ONRSR

ONRSR must— ensure its operations are carried out efficiently, effectively and economically; and keep proper books and records in relation to the Fund and other money received by ONRSR; and 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 ensure its procedures, including internal control procedures, afford adequate safeguards with respect to— the correctness, regularity and propriety of payments made from the Fund; and receiving and accounting for payments made to the Fund; and prevention of fraud or mistake; and 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 take any action necessary to facilitate the audit of those financial statements under this Law; and 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.

• (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
• (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.
• (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