Section 25: Accounts and audit.

(1) The Council shall:
(a) keep proper records of all accounts of its income and expenditure; and
(b) prepare the statement of account in respect of each financial year.
(2) Without prejudice to any other requirement as to accounting or control imposed, whether by an enactment or otherwise, with respect to the finances of and the lands, endowments and other property held by or for the purpose of the University, the Council shall cause the accounts kept under this subsection for any period to be audited not later than 31st day of March of each financial year, by auditors appointed from a list of qualified auditors in accordance with guidelines laid down by the Auditor-General for the Federation.