Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part III · Finance
31L. Annual report and accounts
Feedback & supportThe Audit Oversight Board shall, within three months after the end of each financial year, prepare a report on its activities during that financial year and send a copy of the report to the
Audit Oversight Board
“Audit Oversight Board” means the Audit Oversight Board established under section 31C;
Commission.
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
For the purposes of subsection (1), the report shall provide—
the assessment of the Audit Oversight Board of its performance and effectiveness in discharging its responsibilities under section 31E;
an assessment of significant risks relating to the quality and reliability of financial statements of public interest entities and schedule funds as identified by the Audit
Oversight Board in the course of its inspection and inquiries, and key measures recommended by the Audit
Oversight Board to address such risks;
the systems, procedures and practices used by the Audit
Oversight Board for evaluating the effectiveness of its operations; and
any other matter affecting the carrying out of the functions of the Audit Oversight Board.
The Commission shall cause a copy of the annual report to be submitted to the Minister.
Minister
“Minister” means the Minister for the time being charged with the responsibility for finance;
52 Laws of Malaysia ACT 498
The Commission shall keep proper accounts of the Audit
Oversight Board Fund and shall prepare the statement of accounts in respect of such accounts.
The accounts of the Audit Oversight Board Fund shall be kept separate from the accounts of the Commission as provided under section 29.
The Commission shall cause the statement of accounts of the
Audit Oversight Boad Fund to be audited by auditors appointed by the Commission.
The Commission shall, as soon as possible, send a copy of the statement of accounts of the Audit Oversight Board Fund certified by the auditors and a copy of the auditor’s report to the
Minister who shall cuase them to be laid before both Houses of
Parliament.