Telephone Capital Act, 1927

Preparation and audit of accounts.

3.—(1) Within eight months after the expiration of the financial year ended on the 31st day of March, 1927, and within eight months after the end of every subsequent financial year in which any sum is issued or expended under the authority of the Telephone Capital Act, 1924 (No. 33 of 1924). or of this Act or of any future Act with which this section is incorporated, the Minister for Posts and Telegraphs shall cause an account to be prepared in a form to be prescribed by the Minister for Finance showing the money expended and borrowed and the securities created under the authority of those Acts respectively.

(2) Every account of expenditure prepared pursuant to this section shall be transmitted to the Comptroller and Auditor-General, and shall be audited and reported on by him as an appropriation account in manner directed by the Exchequer and Audit Departments Acts, 1866 and 1921.