Nursing Act, 2005 (Act No. 33 of 2005)Chapter 1 : South African Nursing Council29. Corporate governance |
| (1) | The Registrar is the accounting officer of the Council. |
| (2) | The Registrar must— |
| (a) | keep full and proper records of all moneys received and expenses incurred by, and of all assets, liabilities and financial transactions of, the Council; and |
| (b) | ensure that the Council has and maintains— |
| (i) | effective, efficient and transparent systems of financial and risk management and internal control; |
| (ii) | an appropriate procurement and provisioning system which is fair, equitable, transparent, competitive and cost-effective; |
| (iii) | a system for properly evaluating all projects involving expenditure of capital prior to a final decision on the project; |
| (c) | take effective and appropriate steps to— |
| (i) | collect all moneys due to the Council; |
| (ii) | prevent unauthorised, irregular or fruitless and wasteful expenditure and losses resulting from criminal conduct; and |
| (iii) | manage available working capital efficiently and economically; |
| (d) | take into account all relevant financial considerations, including issues of propriety, regularity and value for money, when policy proposals affecting the Registrar’s responsibilities are considered and, when necessary, bring those considerations to the attention of the Council; |
| (e) | be responsible for the management, including the safeguarding and the maintenance, of the assets and for the management of the liabilities of the council; |
| (f) | settle all contractual obligations and pay all moneys owing by the Council within 30 days of the due date or within a period to which the relevant creditor has agreed, |
| (g) | ensure that expenditure of the Council is in accordance with the budget and decisions of the Council; |
| (h) | keep full and proper records of the financial affairs of the Council in accordance with any prescribed norms and standards; |
| (i) | submit the financial statements of the Council within two months after the end of the financial year to an independent auditor for auditing; |
| (j) | submit within four months after the end of a financial year to the Council— |
| (i) | an annual report on the activities of the Council during that financial year; |
| (ii) | the financial statements for that financial year after those statements have been audited, and |
| (iii) | an independent auditor's report on those statements. |
| (3) | The Council must ensure that the requirements of subsection (2) are met and properly fulfilled. |
| (4) | Any person who obstructs the Registrar or the Council in fulfilling the requirements of subsections (2) or (3) is guilty of an offence and is liable on conviction to a fine or to imprisonment for a period not exceeding two years or to both a fine and such imprisonment. |