Section 33: Annual estimates, accounts and audit

(1) The Council shall cause to be prepared, not later than 30 September in each year, an estimate of the expenditure and income of the Institute during the next succeeding year, and when prepared, they shall be submitted to the President.
(2) The Council shall cause to kept proper accounts of the Institute and proper records in relation thereto and when certified by the Council the accounts shall be audited as provided in subsection (3) of this section.
(3) The accounts of the Institute shall be audited within six months after the end of each year by auditors appointed by the Council from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation; and the fees of the auditors and the expenses of the auditors generally shall be paid from the funds of the Institute.