Section 10: Estimates, accounts and audits.

(1) The Board shall cause to be prepared, not later than 31 October in each year, an estimate of the income and expenditure of the Institute for the next succeeding year, and when prepared the estimate shall be submitted to the President for consideration and approval.
(2) The Board shall cause to be kept proper accounts and proper records in relation thereto and when certified by the Board such 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 Board from the list of auditors and in accordance with guidelines supplied by the Auditor-General for the Federation and the fees of the auditors and the expenses of the audit generally shall be paid from the funds of the Institute.