Section 16: Annual estimates and accounts

(1) The Commission shall, not later than 31 October in each year, submit to the Minister an estimate of its expenditure and income, including payments to the Fund, for the preceding year.
(2) The Commission shall keep proper accounts in respect of each financial year and proper records of every account and shall cause such accounts to be audited within six months after the end of each financial year by auditors appointed from the list of auditors and in accordance with the guidelines by the Auditor-General for the Federation.