Section 94 - Accounts and audit

(1) A trade union or an employers' organisation registered under this Act shall

(a) keep books and records of accounts of its income, expenditure, assets and liabilities; and

(b) prepare annual financial statements consisting of all income and expenditure statements in respect of each financial year of the trade union or employers' organisation and a balance sheet showing its assets, liabilities and financial position at the end of that financial year.

(2) The books and records of accounts and financial statements shall be audited within six months after the end of its financial year by an auditor appointed by the trade union or employers' organisation.