Section 29: Accountability of Council

29. Accountability of Council (1) The Council shall, subject to subsection (5), submit to the Minister an annual report on its affairs and functions during that financial year, within 4 months of the close of its financial year, and such report shall include— (a) a copy of its audited annual financial statements, together with the report of the Director of Audit thereon; (b) an overview of the activities of the Council; (c) an account of the extent to which the objects of the Council have been achieved in that financial year; (d) a profile of the members of the Council, their attendance of meetings of the Council, and their remuneration; and (e) a profile of the Chief Executive Officer, the senior employees and members of the Committees and Panels, and their respective remuneration. (2) The Council shall ensure that its annual financial statements are prepared in compliance with the IFRS issued by IASB. (3) The annual financial statements of the Council shall be audited by the Director of Audit. F9 – 15 [Issue 5] Financial Reporting Act (4) The Minister shall, at the earliest available opportunity, lay a copy of the annual report before the National Assembly. (5) — [S. 29 amended by s. 12 (b) of Act 27 of 2012 w.e.f. 22 December 2012.]