Accounts

Section 20. Accounts
(1) The Council shall keep proper books of accounts with regard to all sums of money received and expended by the Society, the Council and staff of the Society, and the matters in respect of which the receipt and expenditure take place.
(2) The Council shall keep such bank accounts in name of the Society as the Council may determine, and, save as otherwise directed by the Council, there shall be paid into the said bank accounts all sums received by the Society or the Council or staff of the Society or otherwise all payments due to be met by the Society or the Council or otherwise payable out of the funds of the Society. The Council may give directions with respect to keeping, paying money into, and operating on the several bank accounts.

Section 21. Accounts to be made up yearly and submitted for audit
(1) Immediately after the end of each financial year the Council shall cause the accounts of the Society for that year to be brought to a balance and a balance sheet prepared.
(2) The Council shall cause the accounts for the financial year to be audited as soon as practicable after the end of the year by the auditors appointed by the Society at the Annual General Meeting. A copy of the accounts, or an abstract thereof, and of the auditors’ certificate thereon shall be made available to the members of the Society on the Society’s website from the date the notice of the Annual General Meeting at which the statement of accounts of the Society and the report of the auditors thereon are to be considered is sent to the members of the Society. If, after the notice of the Annual General Meeting has been sent to the members of the Society, a member requests a copy of the accounts, or an abstract thereof, and of the auditor’s certificate thereon to the member. At the option of the member that copy shall be sent either in paper or electronic form to the member at his place of business. (3) If a vacancy arises in the office of auditor of the accounts of the Society between Annual General Meetings, the Council may appoint an auditor to fill the vacancy until the next Annual General Meeting and fix the remuneration.