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MONEY LAUNDERING (PREVENTION) ACT
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14.   Accounts and audit

Revised Laws of Saint Lucia (2021)

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14.   Accounts and audit

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    (1)   The Authority shall keep proper accounts and other records in relation to the Authority in accordance with generally accepted international standards, and shall prepare in respect of each financial year a statement of accounts.

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    (2)   The accounts of the Authority for each financial year shall be audited by an auditor to be appointed by the Director with the approval of the Minister.

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    (3)   An auditor appointed under subsection (2) shall conduct the audit in accordance with generally accepted international auditing standards and principles.

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    (4)   The Board, the Director and staff of the Authority shall grant to the auditor appointed under subsection (2) access to all books, deeds, contracts, accounts, vouchers, or other documents which the auditor may deem necessary and the auditor may require the person holding or accountable for such document to appear, make a signed statement or provide such information in relation to the document as the auditor deems necessary.

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    (5)   A person required to appear, make a signed statement or to provide information under subsection (4) and who fails to comply commits an offence and upon summary conviction is liable to a fine not exceeding $3,000.00 or to imprisonment for a term not exceeding 6 months or to both and to revocation of his or her appointment as a member of the Board, the Director or staff of the Authority in accordance with this Act.

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    (6)   As soon as the accounts have been audited the Authority shall submit a copy to the Minister and a copy of any report made by the auditor.

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    (7)   The Minister shall lay or cause to be laid a copy of the audited accounts in Parliament.

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