Section 24: Accounts, records and audit.

1 The financial year of the Academy shall commence on the 1st day of January of each year and end on the 31st day of December of the same year or any such time as may be prescribed by Financial Regulations issued by the Federal Government of Nigeria.

2 The Academy shall keep proper accounts and records of its receipts, payments, assets and liabilities in respect of each year manually and electronically and shall-
a cause the accounts to be audited, within three months from the end of each financial year, by auditors appointed from the list and in accordance with guidelines supplied by the Auditor- General for the Federation; and
b prepare a Statement of Account in respect of each year in such form and manner as may be approved by the Government.

3 An auditor appointed under subsection (2) shall have access to all accounts and other records relating to such accounts as are kept by the Academy and shall have the power to require from any staff of the Academy such information and explanation as in the auditor's opinion are necessary for the purpose of the audit.

4 The audited accounts and records of the Academy shall be submitted to the Council for consideration and subsequently forwarded to the Auditor-General for the Federation.