Section 44Part 4 — Ministries and Portfolios - Duties of Ministries, Portfolios and Chief Officers
Annual reports
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Each ministry or portfolio (the "entity") shall, within two months after the end of each financial year (the "year") —
prepare an annual report for the year; and
submit the report to the Auditor General for review.
The report shall —
state details of the entity's activities during the year;
include a statement reporting all executive financial transactions that the entity administered;
include the entity's financial statements for the year; and
compare the actual performance shown by the financial statements with the performance proposed in the relevant budget statement.
The financial statements shall —
be prepared on a basis consistent with the relevant forecast; and
comply with Schedule 4.
The Auditor General shall, within two months after receiving the report, review it and express an opinion on the financial statements.
The entity shall, within five months after the end of the year, present the report and opinion to the Cabinet for review and noting.
After the Cabinet's review and noting, a member of the Cabinet appointed by it to do so shall present the report to the Cayman Islands Parliament to review at its next sitting.
In this section — "relevant budget statement" means the entity's finalised budget statement under section 42 that includes the year, together with any amendments to that statement under section 42 relating to the year; and "relevant forecast" means the forecast financial statements in the relevant budget statement.
Defined Terms
relevant budget statementrelevant forecast
Cross References
- Section 42 of Public Management And Finance Act
Budget statement and amendments reference