Name, commencement and application

1.—(1) The name of these Regulations is the Accounts and Audit (Amendment) (Wales) Regulations 2001 and they shall come into force on 18 January 2002.

(2) These Regulations apply to Wales only.

Interpretation

2.  In these regulations “the 1996 Regulations” (“Rheoliadau 1996”) means the Accounts and Audit Regulations 1996(3).

Statement of Accounts

3.  Regulation 6 of the 1996 Regulations is amended as follows:

In paragraph (3)(k) delete the words “a probation committee,”.

Other Accounting Statements

4.  Regulation 7 of the 1996 Regulations is amended as follows:

In paragraphs (3) and (4), for “£5,000” substitute “£50,000”.

Publication of Annual Audit Letter

5.  After Regulation 16 of the 1996 Regulations there is inserted—

“Publication of Annual Audit Letter

16A.  As soon as reasonably possible after it is received a relevant body shall—

(a)publish the annual audit letter(4) received from the auditor; and

(b)keep copies available for purchase by any person on payment of a reasonable sum to be determined by the relevant body.”

Explanatory Note

(This note is not part of the Regulations)

The Regulations make minor amendments to the Accounts and Audit Regulations 1996, which, although made under the previous legislation, were continued in force by virtue of paragraph 2 of Schedule 4 to the Audit Commission Act 1998 (a consolidation measure).

Regulation 3 amends Regulation 6 of the 1996 Regulations so as to omit the reference to “a probation committee”. The Criminal Justice and Court Services Act 2000 saw the replacement of probation committees with probation boards, which are not subject to the 1996 Regulations.

Regulation 4 amends Regulation 7 of the 1996 Regulations to increase the financial threshold above which community councils in Wales are required to prepare income and expenditure accounts from £5,000 to £50,000.

Regulation 5 inserts a new requirement into the 1996 Regulations for relevant bodies to publish the annual audit letter that they receive from their auditor.