Section 122
of Securities Markets Regulations, 2015
Section 122
The operator must ensure that the report of the auditor to the unit holders for inclusion in the annual report includes a statement
(a} whether the auditor is of the opinion that, the accounts have been properly prepared in accordance with the accounting standards adopted by the collective investment scheme in accordance with these Regulations, the constitution and the prospectus;
(b)
whether the auditor is of the opinion that, the accounts give a true and fair view of the net income and the net gains or losses of the collective investment scheme property or, as the case may be, the collective investment scheme property attributable to the sub-collective investment scheme for the annual accounting period in question and the financial position of the collective investment scheme or sub-collective investment scheme as at the end of that period;
(c)
whether the auditor is of the opm10n, that proper accounting records for the collective investment scheme or, as the case may be, sub-collective investment scheme have not been kept or whether the accounts are not in agreement with those records;
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{d) whether the auditor has been given all the information and explanation which, to the best of his knowledge and belief, are necessary for the purposes of his audit; and
{e)
whether the auditor is of the opinion that, the information given in the report of the directors or in the report of the operator for that period is consistent with the accounts.