Section 30 CAP. 35.05 Tuvalu Telecommunications Corporation Act (b) significantly affect the strategies and policies that are to be followed under the corporate plan; or (c) prevent or significantly affect the forecasts of revenue and expenditure under a corporate plan, the Board must immediately notify the Minister of its opinion and of the reasons for that opinion. 30 Audit (1) The Auditor-General shall inspect and audit and report at least once in every financial year to Parliament on the accounts finances and property of the Corporation. (2) The Auditor-General shall satisfy himself that — (3) 31 (a) the accounts of the Corporation have been properly prepared in accordance with generally accepted international accounting principles taking into consideration the requirement for good stewardship and developing practices with respect to the reporting of public finances; and (b) that expenditure has been incurred with due regard to economy and the avoidance of waste. The Auditor-General, in his report as required by subsection (1) of this section, shall state — (a) whether the accounts and statements have been properly prepared in accordance with the books and records of the Corporation and give a true view of the financial operations and the current financial position of the Corporation; (b) whether the books and records of the Corporation have been properly kept and contain information adequate for the purposes of the audit; (c) whether the financial affairs of the Corporation have been properly conducted; and (d) all other matters arising out of the accounts and statements which he considers should be made known to Parliament. Grants, loans, subsidy The Corporation may request the Government to make subsidy grants, loans or to agree to a subsidy scheme for the purposes of — (a) Page 18 establishing, developing, working and maintaining any telecommunication systems in the outer islands of Tuvalu and in areas where the provision of such service would be uneconomical; and 2008 Revised Edition