Section 27: Accounts and Audit.

(1) The Institute shall keep proper books of accounts or records in respect of each financial year.
(2) The Council shall -
(a) cause the accounts to be audited by auditors, not later than the first quarter of the following year; and
(b) submit the audited accounts to the members of the Institute for approval at the next Annual General Meeting.
(3) The Auditors, for the purpose of subsection (1), shall be appointed at the Annual General Meeting of the Institute on the recommendation of the President and the Auditors so appointed shall not be members of the Council.