Audit of the Public Accounts

Size: px
Start display at page:

Download "Audit of the Public Accounts"

Transcription

1 National Audit Office of the Faroe Islands Audit of the Public Accounts April 2006 Traðagøta 43 Postrúm 2053 FO-165 Argir (298) (298)

2 National Audit Office of the Faroe Islands 2 Table of Contents 1 LEGISLATION THE PARLIAMENT'S AUDIT COMMITTEE THE AUDITOR GENERAL THE ACCOUNTS-AUDITORS THE NATIONAL AUDIT OFFICE OF THE FAROE ISLANDS PRIVATE AUDITORS SCHEMATIC DEPICTING KEY RELATIONSHIPS WITHIN THE AUDIT PROCESS THE ACCOUNTS-AUDITORS' RESPONSIBILITIES FINANCIAL AUDIT PERFORMANCE AUDIT REPORTS REPORTS TO THE PARLIAMENT'S AUDIT COMMITTEE REPORTS TO THE MANAGEMENT OF THE AUDITED ENTITY AND TO THE MINISTER RESPONSIBLE REPORTS TO THE PUBLIC...6

3 National Audit Office of the Faroe Islands 3 Audit of the Public Accounts 1 Legislation The general rules governing the audit of the public accounts are stipulated in 45 of the Administration Act. Detailed rules are laid down in Parliamentary Act No. 25 of April 21 st, 1999 governing the audit of the Public accounts. 2 The Parliament's Audit Committee The Parliament's Audit Committee is comprised of four members of the Faroese Parliament. The Parliament's Audit Committee shall scrutinize the Public accounts and other accounts submitted by public institutions, etc. and shall ascertain that the accounts are correct and in compliance with granted budget appropriations. Furthermore, an evaluation shall be made as to whether sound economic management has been applied. The Parliament's Audit Committee shall table a motion for a resolution before Parliament for approval of the accounts, together with their observations. 3 The Auditor General The Presidency of Parliament appoints an Auditor General to be in charge of the audit. The Auditor General also serves as the secretary to the Parliament's Audit Committee. The Auditor General is independent in the performance of his duties and hires and manages his own staff. 4 The Accounts-Auditors The task of the Parliament's Audit Committee Auditors, who are: is based on reports submitted by the Accounts- The National Audit Office and State Authorized Public Accountants and Registered Public Accountants. 4.1 The National Audit Office of the Faroe Islands The National Audit Office of the Faroe Islands shall conduct an audit of all accounts, if not otherwise stipulated by law, regulation, etc. The accounts for most public agencies or institutions and government foundations are included within the aggregated Public Accounts. The National Audit Office of the Faroe Islands conducts the audit of a majority of these public institutions. In addition, the National Audit Office of the Faroe Islands may request submission of the accounts of enterprises owned by the Faroese Government and the accounts of institutions, associations, foundations etc. receiving capital contributions, subsidies, loans, guarantees or other financial support from the Faroese Government. 4.2 Private auditors For decades, private auditors have borne the responsibility to audit part of the public activities in the Faroes. For some public agencies and institutions, it is stipulated by law, regulation or agency directive that the audit shall be conducted by registered or state-authorised public accountants. In other cases, the audit is conducted in accordance with a specific agreement or according to custom. In addition, private auditors conduct the audits of government foundations and self-governing institutions, etc. whose operating budgets are included in the Public Budget. Registered or state-authorised public accountants currently audit approximately 60 accounts.

4 National Audit Office of the Faroe Islands 4 5 Schematic depicting key relationships within the audit process The flow of communication between the Faroese Parliament, the Parliament's Audit Committee, the National Audit Office of the Faroe Islands and private auditors can be depicted like this: The Faroese Parliament (Føroya Løgting) The Budget The Prime Minister The Presidency of Parliament Minister of Trade and Industry The Public Accounts Minister of Finance Minister of Fisheries Minister of Social and Helth Affairs Minister of Interior Minister of Education and Culture The Auditor General The National Audit Office The Parliament's Audit Committee Reports Proposal for Parliamentary Resolution Reports Private Auditors The diagram shows: The Parliament o elects the Prime Minister, who appoints ministers to administer their respective fields of responsibility o elects the Presidency of Parliament who appoints an Auditor General o elects four members to the Parliament's Audit Committee The Parliament adopts the Budget for the fiscal year The ministers administer their respective fields of responsibility under the Budget The Public Accounts for the fiscal year are presented The National Audit Office of the Faroe Islands and private auditors submit reports to the Parliament's Audit Committee The Parliament's Audit Committee drafts a "Proposal for Parliamentary Resolution" for the adoption of the Public Accounts The Parliament approves the Public Accounts 6 The Accounts-Auditors' responsibilities The Accounts-Auditors shall conduct both a financial audit and a performance audit. 6.1 Financial audit According to the Auditing Act, the financial audit shall ascertain:

5 National Audit Office of the Faroe Islands 5 that all Government revenues are entered into the accounts and that the expenditures are in compliance with granted budget appropriations, that the accounts are correct, and that the proper accounting systems and control activities have been established, that the transactions entered in the accounts are in compliance with the granted budget appropriations, applicable legislation, regulations, agreements and/or customary practice. 6.2 Performance audit According to the Auditing Act, the ordinary performance audit is stipulated accordingly: Furthermore, an evaluation shall be made as to whether sound economic management has been applied to the administration of the funds and the running of the operations covered by the accounts. The ordinary performance audit involves an examination of how stipulated tasks have been carried out, taking into consideration the aspects of economy, efficiency and effectiveness. Furthermore, the Parliament's Audit Committee may require the auditor to prepare reports on an extended performance audit in certain areas of the accounts, and they may require the National Audit Office of the Faroe Islands to draft reports on extended performance audits for all accounting areas. 7 Reports 7.1 Reports to the Parliament's Audit Committee The work of the Parliament's Audit Committee shall be based on reports from the accounting audit, i.e. the National Audit Office of the Faroe Islands and private auditors. The reports form a considerable part of the Parliamentary control of the national financial affairs and governmental administration. The Auditor General, who is the manager of the National Audit Office of the Faroe Islands, serves as secretary to the Parliament's Audit Committee and shall assist the Committee in performing its duties. 7.2 Reports to the management of the audited entity and to the minister responsible The reports are first presented to the minister responsible, for comments. The report to the Parliament's Audit Committee shall include possible comments and statements from the minister regarding measures and considerations the report has given rise to. Prior to a report being submitted to the minister responsible, the administrators of the audited entity normally have had the opportunity to submit their comments on the respective report. If requested, the auditor is to inform the minister of the type and scope of the audit that has been performed. The minister and the respective administrators may, therefore, to a certain extent, use the reports from the accounting auditors as a tool for monitoring control activities relevant to certain specific areas of the accounts. Below is a diagram of the communication linkages between the National Audit Office of the Faroe Islands and the above-referenced governmental authorities.

6 National Audit Office of the Faroe Islands 6 5. Report The Parliament's Audit Committee The National Audit Office 1. Draft to a Report 2. The Administrator's response 3. Report 4. The Minister's response Institutions Minister 7.3 Reports to the public Anyone may familiarise themselves with the reports that the Accounts-Auditors present to the Parliament's Audit Committee. In this manner, the public is also able to obtain insight into the auditing that has been conducted.

The Auditor General's Act

The Auditor General's Act The Auditor General's Act Consolidation of Consolidating Act No. 3 of 7 January 1997 as amended by Act No. 590 of 13 June 2006 Audit of State Accounts etc (Consolidation) Act 1.- (1) The audit according

More information

Government Decree No. 29/2008. (II. 19.) on the Powers and Competences of the Minister Heading the Prime Minister s Office

Government Decree No. 29/2008. (II. 19.) on the Powers and Competences of the Minister Heading the Prime Minister s Office Government Decree No. 29/2008. (II. 19.) on the Powers and Competences of the Minister Heading the Prime Minister s Office Acting pursuant to Paragraph 3 Article 28 of Act LVII of 2006 on the Central Administration

More information

The Law of the City of Moscow. No. 30 dated the 30 th of June 2010. On the Chamber of Control and Accounts of Moscow

The Law of the City of Moscow. No. 30 dated the 30 th of June 2010. On the Chamber of Control and Accounts of Moscow The Law of the City of Moscow No. 30 dated the 30 th of June 2010 On the Chamber of Control and Accounts of Moscow In accordance with the federal legislation and the Moscow City Charter, this Law shall

More information

Full list of mistakes and omissions of the English Version of the Hungarian draft- Constitution

Full list of mistakes and omissions of the English Version of the Hungarian draft- Constitution Full list of mistakes and omissions of the English Version of the Hungarian draft- Constitution This document contains the full list of mistakes and omissions of the draft-constitution English version.

More information

National Tea and Coffee Development Board Act, 2049 (1993)

National Tea and Coffee Development Board Act, 2049 (1993) National Tea and Coffee Development Board Act, 2049 (1993) Date of Authentication and Publication 2050.2.2 (15 May 1993) Act number 5 of the year 2050 (1993) An Act Made to Provide for the Establishment

More information

Bemis Company, Inc. Audit Committee Charter

Bemis Company, Inc. Audit Committee Charter Bemis Company, Inc. Audit Committee Charter BEMIS COMPANY, INC. AUDIT COMMITTEE CHARTER I. Purpose EXHIBIT 2 This charter establishes the responsibilities of the Audit Committee ( Committee ) of the Board

More information

BRITISH MUSEUM MANAGEMENT STATEMENT AND FINANCIAL MEMORANDUM

BRITISH MUSEUM MANAGEMENT STATEMENT AND FINANCIAL MEMORANDUM BRITISH MUSEUM MANAGEMENT STATEMENT AND FINANCIAL MEMORANDUM PART ONE: MANAGEMENT STATEMENT I. INTRODUCTION This document Paragraph(s) 1-7 Founding legislation; status 8 Classification 9-11 The functions,

More information

1 L.R.O. 2002 Agricultural Development Fund CAP. 252B AGRICULTURE DEVELOPMENT FUND

1 L.R.O. 2002 Agricultural Development Fund CAP. 252B AGRICULTURE DEVELOPMENT FUND 1 L.R.O. 2002 Agricultural Development Fund CAP. 252B CHAPTER 252B AGRICULTURE DEVELOPMENT FUND ARRANGEMENT OF SECTIONS SECTION 1. Short title. 2. Purposes of the Act. 3. Establishment of the Fund. 4.

More information

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 as amended by Public Finance Management Amendment Act, No. 29 of 1999 ACT To regulate financial management in the national government and provincial governments;

More information

Annex II: Terms of Reference for Management and Implementation Support Consultant (Firm)

Annex II: Terms of Reference for Management and Implementation Support Consultant (Firm) Annex II: Terms of Reference for Management and Implementation Support Consultant (Firm) a. Background: 1. The GoB in accordance with its Public Financial Management (PFM) Strategy & Vision and Medium

More information

EXAMINING PUBLIC SPENDING. Estimates Review: A Guide for Parliamentarians

EXAMINING PUBLIC SPENDING. Estimates Review: A Guide for Parliamentarians EXAMINING PUBLIC SPENDING Estimates Review: A Guide for Parliamentarians Some information for this booklet was taken from the Treasury Board of Canada Secretariat s website. A description of the Expenditure

More information

Appendix C Accountant in Bankruptcy. Annual report on the 2013/14 audit

Appendix C Accountant in Bankruptcy. Annual report on the 2013/14 audit Appendix C Accountant in Bankruptcy Annual report on the 2013/14 audit Prepared for Accountant in Bankruptcy and the Auditor General for Scotland 6 August 2014 Audit Scotland is a statutory body set up

More information

RULES FOR THE BOARD OF DIRECTORS WRIGHT MEDICAL GROUP N.V. ST\ASD\13635703.1

RULES FOR THE BOARD OF DIRECTORS WRIGHT MEDICAL GROUP N.V. ST\ASD\13635703.1 RULES FOR THE BOARD OF DIRECTORS OF WRIGHT MEDICAL GROUP N.V. These Rules were adopted by the Board of Directors on 26 August 2010 and have been amended on 30 April 2013, 29 October 2013 and 1 October

More information

Consolidation Act no. 224 of 16 March 2009. Act on Energinet.dk

Consolidation Act no. 224 of 16 March 2009. Act on Energinet.dk Consolidation Act no. 224 of 16 March 2009 Act on Energinet.dk as amended by L 2009-06-12 no. 516, L 2010-06-12 no. 622 and L 2011-05-18 no. 466. Part 1 Preliminary provisions 1(1) The Danish Minister

More information

POLICY ON CORPORATE GOVERNANCE FOR LESOTHO PUBLIC ENTERPRISES, GOVERNMENT AGENCIES AND ENTITIES

POLICY ON CORPORATE GOVERNANCE FOR LESOTHO PUBLIC ENTERPRISES, GOVERNMENT AGENCIES AND ENTITIES POLICY ON CORPORATE GOVERNANCE FOR LESOTHO PUBLIC ENTERPRISES, GOVERNMENT AGENCIES AND ENTITIES PREAMBLE The Government of Lesotho has noted the increasing demand of the citizens for better control and

More information

Royal Decree on the Establishment the International Institute for Trade and Development (Public Organization), B.E.2544 (2001)

Royal Decree on the Establishment the International Institute for Trade and Development (Public Organization), B.E.2544 (2001) Royal Decree on the Establishment the International Institute for Trade and Development (Public Organization), B.E.2544 (2001) BHUMIBHOL ADULYADEJ REX. Given on the 24th day of May B.E. 2544 Being the

More information

1. In 3 clause 3 item 1 of the Company Statutes, the existing text, i.e.:

1. In 3 clause 3 item 1 of the Company Statutes, the existing text, i.e.: Information on the proposed changes in the Company Statutes submitted by the shareholder, the State Treasury On 3 June 2015 the Company received a letter from the shareholder, the State Treasury, in which,

More information

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 [ASSENTED TO 2 MARCH, 1999] [DATE OF COMMENCEMENT: 1 APRIL, 2000] (Unless otherwise indicated) (English text signed by the President) NATIONAL TREASURY This

More information

Part 1 National Treasury

Part 1 National Treasury PUBLIC FINANCE MANAGEMENT ACT 1 OF 1999 [ASSENTED TO 2 MARCH 1999] [DATE OF COMMENCEMENT: 1 APRIL 2000] (Unless otherwise indicated) (English text signed by the President) as amended by Public Finance

More information

Rathlin Ferries Limited. Directors report and financial statements Registered number SC306518 31 March 2010

Rathlin Ferries Limited. Directors report and financial statements Registered number SC306518 31 March 2010 Rathlin Ferries Limited Directors report and financial statements Registered number SC306518 Contents Directors report 1 Statement of Directors responsibilities 3 Independent auditors report 4 Profit and

More information

Early Identification and Management of Risks Committee Duties and Working Principles

Early Identification and Management of Risks Committee Duties and Working Principles 2013 Early Identification and Management of Risks TÜRK TELEKOMÜNİKASYON A.Ş. 1. PURPOSE The purpose of these duties and working principles of TÜRK TELEKOMÜNİKASYON A.Ş, Early Identification and Management

More information

CO-OPERATIVE GOVERNANCE. A Summary of the Code of Best Practices for Co-operatives

CO-OPERATIVE GOVERNANCE. A Summary of the Code of Best Practices for Co-operatives CO-OPERATIVE GOVERNANCE A Summary of the Code of Best Practices for Co-operatives INTRODUCTION The main pillars of the Good Governance are transparency, accountability, risk management and control. Though

More information

OFFICE FACILIT PART THREE: ACCOMMODATION AND OFFICE FACILITIES ACCOMMODAT

OFFICE FACILIT PART THREE: ACCOMMODATION AND OFFICE FACILITIES ACCOMMODAT OFFICE FACILIT PART THREE: ACCOMMODATION AND OFFICE FACILITIES ACCOMMODAT CONTENTS 3.1 Parliament House Office... 3 3.2 Electorate Office... 4 3.3 Commonwealth Parliament Offices (CPO) Visiting Suites...

More information

ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106)

ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106) Unauthorised translation ARTICLES OF ASSOCIATION OF NEUROSEARCH A/S (CVR-no. 12546106) Name, registered office and objects Article 1. The name of the company is NeuroSearch A/S. Article 2. The objects

More information

3) To educate policy makers, legislators and the general public about the benefits of a fair and humane immigration policy;

3) To educate policy makers, legislators and the general public about the benefits of a fair and humane immigration policy; 137-139 West 25 th Street 12 th Floor New York, NY 10001 (212) 627-2227 www.thenyic.org STATEMENT OF PURPOSE AND BY-LAWS OF THE NEW YORK IMMIGRATION COALITION, INC. ADOPTED ON OCTOBER 24, 1990 AMENDED

More information

CELP PROFILE Saint Lucia CARIBBEAN EMERGENCY LEGISLATION PROJECT (CELP)

CELP PROFILE Saint Lucia CARIBBEAN EMERGENCY LEGISLATION PROJECT (CELP) CELP PROFILE Saint Lucia CARIBBEAN EMERGENCY LEGISLATION PROJECT (CELP) Legal Framework The Saint Lucia Constitution Order 1978 The emergency powers arrangements in Saint Lucia are established in two main

More information

7. LAW ON LOCAL SELF-GOVERNMENT FINANCING. Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro, I hereby issue the

7. LAW ON LOCAL SELF-GOVERNMENT FINANCING. Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro, I hereby issue the Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro, I hereby issue the Decree Promulgating the Law on Local Self-Government Financing (Official Gazette of the Republic of Montenegro

More information

ORDER IN COUNCIL. Queensland. Subordinate Legislation 1991 No. 30

ORDER IN COUNCIL. Queensland. Subordinate Legislation 1991 No. 30 Queensland Subordinate Legislation 1991 No. 30 ORDER IN COUNCIL Public Service Management and Employment Act 1988 The Administrator of the Government, acting with the advice of the Executive Council, and

More information

An Act to amend the Auditor General Act and other legislative provisions

An Act to amend the Auditor General Act and other legislative provisions FIRST SESSION THIRTY-EIGHTH LEGISLATURE Bill 71 An Act to amend the Auditor General Act and other legislative provisions Introduction Introduced by Madam Monique Jérôme-Forget Minister of Finance Québec

More information

ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106)

ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106) Unauthorised translation ARTICLES OF ASSOCIATION OF NEUROSEARCH A/S (CVR-no. 12546106) Name, registered office and objects Article 1. The name of the company is NeuroSearch A/S. Article 2. The objects

More information

AUDIT ACT. 2008 Revised Edition CAP. 32.02

AUDIT ACT. 2008 Revised Edition CAP. 32.02 AUDIT ACT CAP. 32.02 Audit Act CAP. 32.02 Arrangement of Sections AUDIT ACT Arrangement of Sections Section PART 1 PRELIMINARY 7 1 Short title... 7 2 Definitions... 7 PART 2 AUDITOR-GENERAL AND THE AUDIT

More information

An Act to establish the Grande bibliothèque du Québec

An Act to establish the Grande bibliothèque du Québec NATIONAL ASSEMBLY SECOND SESSION THIRTY-FIFTH LEGISLATURE Bill 403 (1998, chapter 38) An Act to establish the Grande bibliothèque du Québec Introduced 17 December 1997 Passage in principle 24 March 1998

More information

Head Start Program Governance Improving Head Start for School Readiness Act of 2007 Signed into law December 12, 2007

Head Start Program Governance Improving Head Start for School Readiness Act of 2007 Signed into law December 12, 2007 Head Start Program Governance Improving Head Start for School Readiness Act of 2007 Signed into law December 12, 2007 Composition Conflict of Interest Governing Board Composed of: 1 member background and

More information

CENTRAL GOLDTRUST (the Trust ) CHARTER OF AUDIT COMMITTEE

CENTRAL GOLDTRUST (the Trust ) CHARTER OF AUDIT COMMITTEE CENTRAL GOLDTRUST (the Trust ) CHARTER OF AUDIT COMMITTEE Purpose The primary function of the Audit Committee is to assist the Trustees in fulfilling their oversight responsibilities by reviewing: (a)

More information

Executive Order on Articles of Association for ATP (Arbejdsmarkedets Tillægspension)

Executive Order on Articles of Association for ATP (Arbejdsmarkedets Tillægspension) Executive Order on Articles of Association for ATP (Arbejdsmarkedets Tillægspension) Executive Order no. 468 of 13 June 2005 The following articles of association for ATP (Arbejdsmarkedets Tillægspension)

More information

LAW ON THE BASES REGULATING SECURITY SERVICES OF THE REPUBLIC OF SERBIA. ( Official Gazette of the RS, Nos. 116/2007, 72/2012) I GENERAL PROVISIONS

LAW ON THE BASES REGULATING SECURITY SERVICES OF THE REPUBLIC OF SERBIA. ( Official Gazette of the RS, Nos. 116/2007, 72/2012) I GENERAL PROVISIONS LAW ON THE BASES REGULATING SECURITY SERVICES OF THE REPUBLIC OF SERBIA ( Official Gazette of the RS, Nos. 116/2007, 72/2012) I GENERAL PROVISIONS Law content Article 1 Bases of security-intelligence system

More information

ATTESTATION REPORT OF THE ANTELOPE COUNTY AGRICULTURAL SOCIETY JULY 1, 2013, THROUGH JUNE 30, 2015

ATTESTATION REPORT OF THE ANTELOPE COUNTY AGRICULTURAL SOCIETY JULY 1, 2013, THROUGH JUNE 30, 2015 ATTESTATION REPORT OF THE ANTELOPE COUNTY AGRICULTURAL SOCIETY JULY 1, 2013, THROUGH JUNE 30, 2015 This document is an official public record of the State of Nebraska, issued by the Auditor of Public Accounts.

More information

National Food Policy Council of Canada Act

National Food Policy Council of Canada Act National Food Policy Council of Canada Act An Act to establish the National Food Policy Council of Canada. Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada,

More information

Constitutional and Legislative Affairs Committee LEGISLATIVE CONSENT MEMORANDUM -WALES BILL. Legal Advice Note

Constitutional and Legislative Affairs Committee LEGISLATIVE CONSENT MEMORANDUM -WALES BILL. Legal Advice Note Paratowyd y ddogfen hon gan gyfreithwyr Cynulliad Cenedlaethol Cymru er mwyn rhoi gwybodaeth a chyngor i Aelodau r Cynulliad a'u cynorthwywyr ynghylch materion dan ystyriaeth gan y Cynulliad a'i bwyllgorau

More information

REGULATIONS ON THE GENERAL MEETING OF SHAREHOLDERS. of OJSC Oil Company Rosneft

REGULATIONS ON THE GENERAL MEETING OF SHAREHOLDERS. of OJSC Oil Company Rosneft APPROVED BY General Meeting of Shareholders of OJSC Oil Company Rosneft On June 7, 2006 Minutes without No. REGULATIONS ON THE GENERAL MEETING OF SHAREHOLDERS 1 TABLE OF CONTENTS 1. GENERAL PROVISIONS...5

More information

Evolving Oversight The Australian Joint Committee of Public Accounts and Audit. By Shane Armstrong, Department of the House of Representatives

Evolving Oversight The Australian Joint Committee of Public Accounts and Audit. By Shane Armstrong, Department of the House of Representatives Evolving Oversight The Australian Joint Committee of Public Accounts and Audit By Shane Armstrong, Department of the House of Representatives The Australian Joint Committee of Public Accounts and Audit,

More information

Macquarie Group Limited Board Charter

Macquarie Group Limited Board Charter = Macquarie Group Limited Board Charter 1. ROLE AND RESPONSIBILITIES 1.1 The primary role of the Board of Voting Directors of Macquarie Group Limited ( the Board ) is to promote the long-term health and

More information

Highlights Highlights of a review of the designation of educational institutions for the purpose of student loans for the period 2004-05 to 2006-07.

Highlights Highlights of a review of the designation of educational institutions for the purpose of student loans for the period 2004-05 to 2006-07. Office of the Auditor General Newfoundland and Labrador Highlights Highlights of a review of the designation of educational institutions for the purpose of student loans for the period 2004-05 to 2006-07.

More information

RALLY SOFTWARE DEVELOPMENT CORP.

RALLY SOFTWARE DEVELOPMENT CORP. RALLY SOFTWARE DEVELOPMENT CORP. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS Approved by the Board of Directors on March 19 2013 PURPOSE The primary purpose of the Audit Committee (the Committee

More information

Trust Fund for the People of the Republic of the Marshall Islands. Annual Report Fiscal Year 2010

Trust Fund for the People of the Republic of the Marshall Islands. Annual Report Fiscal Year 2010 Trust Fund for the People of the Republic of the Marshall Islands Annual Report Fiscal Year 2010 This report covers the Fiscal Year from October 1,2009, through September 30, 2010. Trust Fund Assets in

More information

ENVIRONMENTAL INVESTMENT FUND OF NAMIBIA ACT 13 OF 2001 [ASSENTED TO 6 DECEMBER 2001] [DATE OF COMMENCEMENT: TO BE PROCLAIMED]

ENVIRONMENTAL INVESTMENT FUND OF NAMIBIA ACT 13 OF 2001 [ASSENTED TO 6 DECEMBER 2001] [DATE OF COMMENCEMENT: TO BE PROCLAIMED] ENVIRONMENTAL INVESTMENT FUND OF NAMIBIA ACT 13 OF 2001 [ASSENTED TO 6 DECEMBER 2001] [DATE OF COMMENCEMENT: TO BE PROCLAIMED] (Signed by the President) ACT To provide for the establishment of an Environmental

More information

Promote a culture of performance management among its political structures, Political office bearers and councilors and is administration: and

Promote a culture of performance management among its political structures, Political office bearers and councilors and is administration: and Annexure A Part 1 Local Government Municipal Systems Act, (MSA), 2000 Section 38 Establishment of Performance Management System A municipality must: (a) Establish a performance engagement system that:

More information

CHEVRON CORPORATION AUDIT COMMITTEE CHARTER

CHEVRON CORPORATION AUDIT COMMITTEE CHARTER CHEVRON CORPORATION AUDIT COMMITTEE CHARTER PURPOSE The purpose of the Audit Committee (the Committee ) of the Board of Directors of Chevron Corporation (the Corporation ) is: 1. To assure that the Corporation

More information

LEGISLATIVE ASSEMBLY FOR THE AUSTRALIAN CAPITAL TERRITORY

LEGISLATIVE ASSEMBLY FOR THE AUSTRALIAN CAPITAL TERRITORY LEGISLATIVE ASSEMBLY FOR THE AUSTRALIAN CAPITAL TERRITORY REVIEW OF AUDITOR-GENERAL S REPORT NO 9, 1997 Fleet Leasing Arrangements STANDING COMMITTEE FOR THE CHIEF MINISTER S PORTFOLIO (INCORPORATING THE

More information

FINANCIAL STATEMENT ACT

FINANCIAL STATEMENT ACT FINANCIAL STATEMENT ACT This Act, comprising of Thirty-Two Articles was enacted and promulgated by Governmental Orders on August 9, 1938; and come into force on January 1, 1941 The entire Twenty-nine Articles

More information

PACIFIC ISLANDS TRAINING INITIATIVE VIRGIN ISLANDS TRAINING INITIATIVE Graduate School, USDA

PACIFIC ISLANDS TRAINING INITIATIVE VIRGIN ISLANDS TRAINING INITIATIVE Graduate School, USDA Pacific and Virgin Islands Training Initiatives 900 Fort Street Mall, Suite 1540, Honolulu, Hawaii 96813 Phone: 808-523-1650 Visit us online at www.pitiviti.org Fax: 808-523-7634 PACIFIC ISLANDS TRAINING

More information

Determination 2014/10: Members of Parliament Base Salary, Additional Salary for Parliamentary Office Holders, and Related Matters

Determination 2014/10: Members of Parliament Base Salary, Additional Salary for Parliamentary Office Holders, and Related Matters REMUNERATION TRIBUNAL Determination 2014/10: Members of Parliament Base Salary, Additional Salary for Parliamentary Office Holders, and Related Matters This Determination sets out the base salary for members

More information

TWELFTH NORTHERN MARIANAS COMMONWEALTH LEGISLATURE AN ACT BE IT ENACTED BY THE TWELFTH NORTHERN MARIANAS COMMONWEALTH LEGISLATURE:

TWELFTH NORTHERN MARIANAS COMMONWEALTH LEGISLATURE AN ACT BE IT ENACTED BY THE TWELFTH NORTHERN MARIANAS COMMONWEALTH LEGISLATURE: TWELFTH NORTHERN MARIANAS COMMONWEALTH LEGISLATURE THIRD REGULAR SESSION, 2001 Public Law 12-65 H. B. NO. 12-376, SD2 AN ACT To further amend the Commonwealth Auditing Act of 1983 for the purpose of addressing

More information

What is a state health insurance exchange (i.e. "American Health Benefit Exchange")?

What is a state health insurance exchange (i.e. American Health Benefit Exchange)? MEMORANDUM DATE: 11/07/2011 TO: Members of the House Appropriation Subcommittee for LARA FROM: Paul Holland, Fiscal Analyst RE: State Health Insurance Exchanges In response to the requirements pertaining

More information

Articles and Memorandum of Association - English convenience translation -

Articles and Memorandum of Association - English convenience translation - Articles and Memorandum of Association - English convenience translation - as of April 08, 2015 This is the convenience translation of the German original version of the Articles and Memorandum of Association

More information

WHAT IS PUBLIC ACCOUNTABILITY?

WHAT IS PUBLIC ACCOUNTABILITY? WHAT IS PUBLIC ACCOUNTABILITY? A publication by: AGO Logo 4C AGO Logo 2C (Black & Pantone 295C) CONTENTS Page PREFACE 2 ACCOUNTABILITY OF THE GOVERNMENT 3 THE ACCOUNTABILITY PROCESS Before the Financial

More information

The Geological Survey of Denmark and Greenland Act

The Geological Survey of Denmark and Greenland Act While this translation was carried out by a professional translation agency, the text is to be regarded as an unofficial translation based on the Act no. 536 of 6 June 2007. Only the Danish document has

More information

CONSOLIDATION OF STUDENT FINANCIAL ASSISTANCE ACT. R.S.N.W.T. 1988,c.S-14. (Current to: July 16, 2010)

CONSOLIDATION OF STUDENT FINANCIAL ASSISTANCE ACT. R.S.N.W.T. 1988,c.S-14. (Current to: July 16, 2010) CONSOLIDATION OF STUDENT FINANCIAL ASSISTANCE ACT (Current to: July 16, 2010) AS AMENDED BY NORTHWEST TERRITORIES STATUTES: R.S.N.W.T. 1988,c.25(Supp.) In force April 1, 1989 R.S.N.W.T. 1988,c.26(Supp.)

More information

SUPPLEMENTAL NOTE ON SUBSTITUTE FOR SENATE BILL NO. 11

SUPPLEMENTAL NOTE ON SUBSTITUTE FOR SENATE BILL NO. 11 Corrected SESSION OF 2007 SUPPLEMENTAL NOTE ON SUBSTITUTE FOR SENATE BILL NO. 11 As Amended by House Committee of the W hole Brief* Sub. for SB 11, as amended by the House Committee of the Whole, would

More information

Statistics Netherlands Act November 2003

Statistics Netherlands Act November 2003 Statistics Netherlands Act November 2003 Bulletin of Acts, Orders and Decrees of the Kingdom of the Netherlands Contents Chapter 1. Definitions Chapter 2. Statistics Netherlands Part 1. Establishment and

More information

CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS

CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS I. PURPOSE The audit committee (the Audit Committee ) is a committee of the board of directors (the Board of Directors ) of Talon Metals Corp. (the

More information

LafargeHolcim Ltd. Finance & Audit Committee Charter Review date: July 28, 2015

LafargeHolcim Ltd. Finance & Audit Committee Charter Review date: July 28, 2015 LafargeHolcim Ltd Finance & Audit Committee Charter Review date: July 28, 2015 1. Purpose 1.1 Mission The Finance & Audit Committee ( FAC ) is an expert committee formally appointed by the Board of Directors

More information

Annex 2: Rules and Procedures for the Swiss-Polish Cooperation Programme

Annex 2: Rules and Procedures for the Swiss-Polish Cooperation Programme Annex 2: Rules and Procedures for the Swiss-Polish Cooperation Programme Annex 2 is an integral part of the Framework Agreement between the Swiss Federal Council and the Government of the Republic of Poland

More information

All about the Controller and Auditor-General

All about the Controller and Auditor-General All about the Controller and Auditor-General Office of the Auditor-General PO Box 3928, Wellington 6140 Telephone: (04) 917 1500 Facsimile: (04) 917 1549 Email: reports@oag.govt.nz Website: www.oag.govt.nz

More information

MOLINA HEALTHCARE, INC. CORPORATE GOVERNANCE GUIDELINES

MOLINA HEALTHCARE, INC. CORPORATE GOVERNANCE GUIDELINES MOLINA HEALTHCARE, INC. CORPORATE GOVERNANCE GUIDELINES The following Corporate Governance Guidelines (the Guidelines ) have been adopted by the Board of Directors (the Board ) of Molina Healthcare, Inc.

More information

Local Government in Scotland Act 2003

Local Government in Scotland Act 2003 Local Government in Scotland Act 2003 (asp 1) i Local Government in Scotland Act 2003 2003 asp 1 CONTENTS Section PART 1 BEST VALUE AND ACCOUNTABILITY Duty to secure best value 1 Local authorities duty

More information

Gladstone Ports Corporation Limited

Gladstone Ports Corporation Limited Gladstone Ports Corporation Limited Human Resources Committee Charter #159378v5 Adopted by Board 17/7/07 1 Table of Contents 1. TERMS OF REFERENCE... 3 2. ROLE AND RESPONSIBILITIES... 3 3. RELATIONSHIP

More information

Disposal Schedule for Functional records of Retirement Benefits Fund. Disposal Authorisation No. 2416

Disposal Schedule for Functional records of Retirement Benefits Fund. Disposal Authorisation No. 2416 Disposal Schedule for Functional records of Retirement Benefits Fund Disposal Authorisation No. 2416 TABLE OF CONTENTS INTRODUCTION Page 4 Archives legislation Page 4 Schedule elements and arrangement

More information

BUSINESS DEVELOPMENT CORPORATION OF AMERICA AUDIT COMMITTEE CHARTER

BUSINESS DEVELOPMENT CORPORATION OF AMERICA AUDIT COMMITTEE CHARTER BUSINESS DEVELOPMENT CORPORATION OF AMERICA AUDIT COMMITTEE CHARTER This Audit Committee Charter was adopted by the Board of Directors (the Board ) of Business Development Corporation of America (the Company

More information

THE NON-PROFIT CORPORATIONS ACT GENERAL ADMINISTRATIVE REQUIREMENTS

THE NON-PROFIT CORPORATIONS ACT GENERAL ADMINISTRATIVE REQUIREMENTS THE NON-PROFIT CORPORATIONS ACT GENERAL ADMINISTRATIVE REQUIREMENTS * The bolded sections refer to sections of The Non-profit Corporations Act, 1995 Every non-profit corporation shall: Corporate Registry

More information

GUIDELINES FOR THE CONDUCT OF PERFORMANCE AUDITS

GUIDELINES FOR THE CONDUCT OF PERFORMANCE AUDITS GUIDELINES FOR THE CONDUCT OF PERFORMANCE AUDITS NOVEMBER 2013 THE ANAO S LEGISLATIVE FRAMEWORK The Auditor-General Act 1997 (the Act) sets out the functions, mandate and powers of the Auditor-General

More information

Bill C-27: First Nations Financial Transparency Act

Bill C-27: First Nations Financial Transparency Act Bill C-27: First Nations Financial Transparency Act Overview of Act Bill C-27: First Nations Financial Transparency Act was introduced in the House of Commons on November 23, 2011 and is identified as

More information

Guidance on Section 90 of the Companies Act, 2008

Guidance on Section 90 of the Companies Act, 2008 1 Important notice: 1. Every effort is made to ensure that the information in this guide is correct. Nevertheless, that information is given purely as guidance to assist with particular problems relating

More information

MBASWF BYLAWS. The name of this corporation is: MORTGAGE BANKERS ASSOCIATION OF SOUTHWEST FLORIDA,

MBASWF BYLAWS. The name of this corporation is: MORTGAGE BANKERS ASSOCIATION OF SOUTHWEST FLORIDA, MBASWF BYLAWS ARTICLE I NAME The name of this corporation is: MORTGAGE BANKERS ASSOCIATION OF SOUTHWEST FLORIDA, INC. hereinafter called the "Association". ARTICLE II PURPOSE Section 1: The purpose of

More information

BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED AUDIT COMMITTEE CHARTER. Revised February 2015

BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED AUDIT COMMITTEE CHARTER. Revised February 2015 BROOKFIELD INFRASTRUCTURE PARTNERS LIMITED AUDIT COMMITTEE CHARTER Revised February 2015 A committee of the board of directors (the Board ) of Brookfield Infrastructure Partners Limited (the Managing General

More information

Day 5: Different Approaches and Tools to Prepare a Strategy

Day 5: Different Approaches and Tools to Prepare a Strategy Day 5: Different Approaches and Tools to Prepare a Strategy Tapio Laamanen 14th January 2011 Government Foresight Network An interministerial forum for cooperation and exchange of information in issues

More information

UNIVERSAL AMERICAN CORP. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS

UNIVERSAL AMERICAN CORP. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS Organization UNIVERSAL AMERICAN CORP. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS This charter governs the operations of the Audit Committee of Universal American Corp. (the Company ). The

More information

MINISTRY OF FINANCE & DEVELOPMENT PLANNING PUBLIC FINANCE MANAGEMENT (PFM) REFORM PROGRAMME FOR BOTSWANA

MINISTRY OF FINANCE & DEVELOPMENT PLANNING PUBLIC FINANCE MANAGEMENT (PFM) REFORM PROGRAMME FOR BOTSWANA MINISTRY OF FINANCE & DEVELOPMENT PLANNING PUBLIC FINANCE MANAGEMENT (PFM) REFORM PROGRAMME FOR BOTSWANA 1. Background The Public Finance Management (PFM) Reform Programme for Botswana is a response to

More information

TITLE 41, NEBRASKA ADMINISTRATIVE CODE, CHAPTER 1 NEBRASKA AUDITOR OF PUBLIC ACCOUNTS

TITLE 41, NEBRASKA ADMINISTRATIVE CODE, CHAPTER 1 NEBRASKA AUDITOR OF PUBLIC ACCOUNTS TITLE 41, NEBRASKA ADMINISTRATIVE CODE, CHAPTER 1 NEBRASKA AUDITOR OF PUBLIC ACCOUNTS RULES AND REGULATIONS CONCERNING THE MINIMUM STANDARDS FOR POLITICAL SUBDIVISION AUDIT REPORTS TITLE 41 - NEBRASKA

More information

Minutes of First Meeting of the Board of Directors of [Name of Company]

Minutes of First Meeting of the Board of Directors of [Name of Company] Minutes of First Meeting of the Board of Directors of [Name of Company] The first meeting of the Board of Directors of [Name of Company] was held at [Street Address, City, State], on [date], at [time].

More information

CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF LIVE NATION ENTERTAINMENT, INC.

CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF LIVE NATION ENTERTAINMENT, INC. CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF LIVE NATION ENTERTAINMENT, INC. This Charter identifies the purpose, membership, meeting requirements and committee responsibilities of the Audit

More information

HEWLETT-PACKARD COMPANY CORPORATE GOVERNANCE GUIDELINES

HEWLETT-PACKARD COMPANY CORPORATE GOVERNANCE GUIDELINES HEWLETT-PACKARD COMPANY CORPORATE GOVERNANCE GUIDELINES These Corporate Governance Guidelines have been adopted by the Board of Directors (the Board ) of Hewlett-Packard Company ( HP ). These guidelines,

More information

LOOKSMART, LTD. CORPORATE GOVERNANCE GUIDELINES

LOOKSMART, LTD. CORPORATE GOVERNANCE GUIDELINES LOOKSMART, LTD. CORPORATE GOVERNANCE GUIDELINES As ratified on 10/18/10 The board has developed corporate governance practices to help fulfill its responsibility to the shareholders. These practices are

More information

THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION SHELTERBOX TRUST. Companies Act 2006

THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION SHELTERBOX TRUST. Companies Act 2006 Company No: 04612652 Charity No: 1096479 THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION OF SHELTERBOX TRUST Companies Act 2006 Company limited

More information

The Crown Corporations Act, 1993

The Crown Corporations Act, 1993 1 The Crown Corporations Act, 1993 being Chapter C-50.101* of the Statutes of Saskatchewan, 1993 (effective January 1, 1994) as amended by the Statutes of Saskatchewan, 1994, c.37; 1996, c.e-6.01 and 42;

More information

Houston County Public Library System Constitution. The name of the system shall be the Houston County Public Library System.

Houston County Public Library System Constitution. The name of the system shall be the Houston County Public Library System. ARTICLE I - NAME Houston County Public Library System Constitution The name of the system shall be the Houston County Public Library System. ARTICLE II - HEADQUARTERS The headquarters for the Houston County

More information

EXCHEQUER AND AUDIT ACT

EXCHEQUER AND AUDIT ACT LAWS OF KENYA EXCHEQUER AND AUDIT ACT CHAPTER 412 Revised Edition 2012 [2010] Published by the National Council for Law Reporting with the Authority of the Attorney-General www.kenyalaw.org [Rev. 2012]

More information

A. Eligibility Membership is open to women who meet the following qualifications:

A. Eligibility Membership is open to women who meet the following qualifications: Women Organizing for Change in Agriculture and Natural Resource Management (WOCAN) BYLAWS ARTICLE I. ASSOCIATION A. Name This organization shall be known as the Women Organizing for Change in Agriculture

More information

Article III Objectives Section 1. To encourage a high standard of professionalism as a means to more effectively serve the public

Article III Objectives Section 1. To encourage a high standard of professionalism as a means to more effectively serve the public VAMLIS ByLaws The name of this organization shall be the Virginia Association for Mapping and Land Information Systems. It is hereinafter referred to in these bylaws as the Association. Article II Purpose

More information

Public Audit (Wales) Act 2004

Public Audit (Wales) Act 2004 Public Audit (Wales) Act 2004 CHAPTER 23 CONTENTS PART 1 AUDITOR GENERAL FOR WALES New functions of the Auditor General for Wales 1 Transfer of functions of Assembly 2 Additional functions of Auditor General

More information

Characteristics of Public Budgets in 5 Latin American Countries

Characteristics of Public Budgets in 5 Latin American Countries Characteristics of Public Budgets in 5 Latin American Countries The Latin American Network for Legislative Transparency is a network of civil society organizations in Latin America that promote transparency,

More information

Chapter 3 Financial Year

Chapter 3 Financial Year [PART 6 FINANCIAL STATEMENTS, ANNUAL RETURN AND AUDIT Chapter 1 Preliminary 269. What this Part contains and use of prefixes - Companies Act and IFRS. 270. Overall limitation on discretions with respect

More information

Basic Law on Intellectual Property (Law No.122 of 2002) (Provisional Translation)

Basic Law on Intellectual Property (Law No.122 of 2002) (Provisional Translation) Basic Law on Intellectual Property (Law No.122 of 2002) (Provisional Translation) Table of Contents Chapter I General Provisions (Articles 1 to 11) Chapter II Basic Measures (Articles 12 to 22) Chapter

More information

PASSUR AEROSPACE, INC (the "Company") AUDIT COMMITTEE CHARTER. The purpose of the Audit Committee (the Committee ) shall be as follows:

PASSUR AEROSPACE, INC (the Company) AUDIT COMMITTEE CHARTER. The purpose of the Audit Committee (the Committee ) shall be as follows: Purpose PASSUR AEROSPACE, INC (the "Company") AUDIT COMMITTEE CHARTER The purpose of the Audit Committee (the Committee ) shall be as follows: 11. To oversee the accounting and financial reporting processes

More information

TRANSLATION ARTICLES OF ASSOCIATION. ALK-Abelló A/S (Company registration (CVR) no. 63 71 79 16) (the Company") March 20142016

TRANSLATION ARTICLES OF ASSOCIATION. ALK-Abelló A/S (Company registration (CVR) no. 63 71 79 16) (the Company) March 20142016 TRANSLATION ARTICLES OF ASSOCIATION of ALK-Abelló A/S (Company registration (CVR) no. 63 71 79 16) (the Company") March 20142016 1. Name 1.1 The name of the company is ALK-Abelló A/S. 1.2 The Company also

More information

By-Laws of Kansas Council of Associate Degree Nurse Educators. ARTICLE I Name and Purpose

By-Laws of Kansas Council of Associate Degree Nurse Educators. ARTICLE I Name and Purpose By-Laws of Kansas Council of Associate Degree Nurse Educators ARTICLE I Name and Purpose The name of this organization shall be Kansas Council of Associate Degree Nurse Educators, hereinafter referred

More information

JACOBS ENGINEERING GROUP INC. CORPORATE GOVERNANCE GUIDELINES

JACOBS ENGINEERING GROUP INC. CORPORATE GOVERNANCE GUIDELINES JACOBS ENGINEERING GROUP INC. CORPORATE GOVERNANCE GUIDELINES Role of the Board of Directors The primary responsibilities of the Board of Directors of the Company (the Board ) are oversight, counseling

More information

Unauthorised translation ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106)

Unauthorised translation ARTICLES OF ASSOCIATION NEUROSEARCH A/S. (CVR-no. 12546106) Unauthorised translation ARTICLES OF ASSOCIATION OF NEUROSEARCH A/S (CVR-no. 12546106) Name, registered office and objects Article 1. The name of the company is NeuroSearch A/S. Article 2. The objects

More information