The Policy on Political Parties Allowances prescribed by Parliament to all parties states the following:

8.14.1 (a) The financial statements must comprise a balance sheet as at March 31 of every financial year (or other date if party ceases to function or be registered)

8.15.1 A party must, before 30 May each year, submit audited financial statements in respect of the application of its Constituency Allowance for the year ending 31 March

It is not true that, as stated by the General Secretary and the Leader of the Party, "audited books of the previous financial year are only expected from political parties in September 2010 and un audited management accounts only expected at the end of May 2010."

The President of COPE remains focused on having clean and transparent management of party business, and especially public funds. Responsible leadership can never allow the party to be in contravention of the Financial Management of Parliament Act (Act 10 of 2009).

Statement issued by COPE head of communications, Phillip Dexter, April 29 2010

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