(1)Scottish Water must—
(a)keep proper accounts and accounting records,
(b)prepare for each financial year a statement of accounts giving a true and fair view of the state of its affairs and its income and expenditure, and
(c)send the statement of accounts, by such time as the Scottish Ministers may direct, to the Auditor General for Scotland for auditing.
(2)Every statement of accounts prepared by Scottish Water in accordance with this section must comply with any direction given by the Scottish Ministers relating to—
(a)the information to be contained in the statement of accounts,
(b)the manner in which that information is to be presented, or
(c)the methods and principles according to which the statement of accounts is to be prepared.