The Independent Supervisor must supervise the performance by each Auditor General of his functions as a statutory auditor.
The Independent Supervisor must discharge that duty by—
If the Independent Supervisor enters into supervision arrangements with one or more bodies, it must oversee the effective operation of those supervision arrangements.
For this purpose "supervision arrangements" are arrangements established by the Independent Supervisor or entered into by the Independent Supervisor with a body, for the purposes of this section, in accordance with which the Independent Supervisor or the body does . . . the following—
The requirements of paragraphs 9 to 10C and 12 to 16 of Schedule 10 (requirements for recognition of a supervisory body) apply in relation to supervision arrangements as they apply in relation to the rules, practices and arrangements of supervisory bodies.
The Independent Supervisor may enter into supervision arrangements with a body despite any relationship that may exist between the Independent Supervisor and that body.
The Independent Supervisor must notify each Auditor General in writing of any supervision arrangements that it establishes or enters into under this section.
The Independent Supervisor must, at least once in every calendar year, deliver to the Secretary of State a summary of the results of any inspections conducted for the purposes of subsection (3)(c).
Supervision arrangements within subsection (3)(f) may, in particular, provide for the payment by an Auditor General of a fine to any personor, in the case of the Auditor General for Wales, for payment by the Wales Audit Office of such a fine.
Any fine received by the Independent Supervisor under supervision arrangements is to be paid into the Consolidated Fund.