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Revised Laws of Saint Lucia (2021)

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28. Audit

(1) The Authority shall, within 4 months after each financial year, have its accounts audited annually by an independent auditor appointed by the Authority who shall conduct the audit in accordance with generally accepted international auditing standards and submit a report on the audit to the Authority.

(2) The Authority, the directors, the Executive Director, officers and employees of the Authority shall grant to the auditor appointed under subsection (1), 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 documents as the auditor deems necessary.

(3) A person who fails to comply with subsection (2) commits an offence and on summary conviction is liable to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both and to revocation of his or her appointment as a director, the Executive Director, an officer or an employee of the Authority in accordance with this Act.

1. Short title and commencement

3. Establishment of the Authority

6. Chairperson and Deputy Chairperson

9. Advisory committees

10. Responsibilities of the Authority

11. Objects of the Authority

12. Regulation of own procedures and other powers of the Authority

14. Core guiding principles

16. Meetings of the Board

18. Protection from liability

19. Declaration of interest and abstention from voting

20. Duration of appointment

21. Resignation

24. Remuneration

25. Expenses of the Authority

26. Financial year, budget and plan of action

29. Annual report

31. Publication by the Authority

32. Exemption from taxes etc.

33. Reporting by regulated entities

35. Prohibition on advertising likely to mislead

36. Disclosure and access to books and records and examination by Authority

38. Exchange of information

40. Fee for late filing

42. General penalty

43. Amendment of enactments

44. Additional powers of the Authority

46. Amendment of Schedules

47. Regulations

2. Interpretation

5. Board of the Authority

7. Executive Director

13. Powers, duties and functions of the Authority

15. Power to issue guidelines

17. Oath of secrecy and confidentiality

30. Power to delegate functions or powers

34. Auditing requirements

37. Authority's powers and measures for preventing adverse consequences

41. Debt due to the Authority

48. Transitional