Audit and Financial Year

14 AUDIT AND FINANCIAL YEAR

14.1 Two voting members, not being members of the Executive Committee, shall be elected as Honorary Auditors at alternate Annual General Meetings and will hold office for a term of two years only and shall not be re-elected for a consecutive term. The accounts of the SFD shall be audited by a firm of Certified Public Accountants if the gross income or expenditure of the SFD exceeds $500,000 in that financial year, in accordance with Section 4 of the Societies Regulations.

14.2 They: a) will be required to audit each year's accounts and present a report upon them to the Annual General Meeting; and b) may be required by the Executive-Director to audit the SFD's accounts for any period within their tenure of office at any date and make a report to the Executive Committee.

14.3 The financial year shall be from 1st April to 31st March of each year.