Cap. 327 Art. 122Accounts and audit.

(1) The entity shall cause to be kept proper accounts and other records in respect of its operations, and shall cause to be prepared a statement of accounts in respect of each financial year.

(2) The accounts of the entity shall be audited by an auditor or auditors to be appointed by the entity and approved by the Minister: Provided that the Minister responsible for finance may, after consultation with the Minister, require the books and accounts of every entity to be audited or examined by the Auditor General who shall for the purpose have the power to carry out such physical checking and other verifications as he may deem necessary.

(3) After the end of each financial year, and not later than the date on which the estimates of the entity are forwarded to the Minister under article 120(4), each entity shall cause a copy of the statement of account duly audited to be transmitted to the Minister and to the Minister responsible for finance together with a copy of any report made by the auditor or auditors on that statement or on the accounts of the entity.

(4) The Minister shall, as soon as practicable, cause a copy of every such statement and report to be laid on the Table of the House of Representatives.