AUDIT BILL

Order for Second Reading read.

3.45 p.m.

The Minister for Finance (Mr Lim Kim San): Mr Speaker, Sir, I beg to move, "That the Bill be now read a Second time."

On the formation of Malaysia, Mr Speaker, Sir, the Singapore Audit Ordinance, 1959, ceased to apply and the Audit Ordinance, 1957, of Malaysia became law in Singapore. The main purpose of this Bill is to re-enact the former Audit Ordinance, 1959, of Singapore with textual changes and changes of terminology taking account of Singapore's status as an independent Sovereign Republic and to provide that the Audit Ordinance, 1957, of Malaysia shall cease to apply to Singapore.

The only amendments of some substance are contained in clauses 3, 4, 6 and 9. Clauses 3 and 4 have been amplified to state more clearly the provisions for the appointment, tenure of officers, and the powers and duties of the Director of Audit.

Clause 6 makes it clear that the responsibility of the Director of Audit is to ascertain that all reasonable steps have been taken to safeguard public money, and to comply with the requirements of the law.

Clause 9 provides that where statements are submitted to the Director of Audit, he need not examine and report on these forthwith, and that where the Director of Audit is satisfied that the accounts of a public or statutory authority show the true state of affairs, he need not submit a report if he gives an unqualified certificate.

These clauses, together with the provisions of the Financial Procedure Act, are so designed that the finances of the State will be subjected to proper accounting and auditing procedure.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole House.

The House immediately resolved itself into a Committee on the Bill. -[Mr Lim Kim San].

Bill considered in Committee; reported without amendment; read a Third time and passed.