Section 20: Accounts, records and audit.

1 The Council shall keep proper accounts and records in relation thereto and shall cause to be prepared, not later than the 1 October in each financial year, an estimate of its revenue and expenditure for the ensuing financial year and when prepared, the estimate shall be submitted to the National Board for Technical Education for approval.

2 At the end of each financial year but not later than the 30 June, the Council shall cause to be prepared a statement of its income and expenditure during the previous financial year.

3 The statement of accounts referred to in subsection (2) shall, when certified by the Rector, be audited by a firm of auditors appointed from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation and shall be published in the annual report of the Polytechnic.