Section 15: Annual estimates, accounts and audit

(1) The Council shall cause to be prepared not later than five months before the end of each year an estimate of the expenditure and income of the Institute during the next succeeding financial year and when prepared they shall be submitted to the Attorney-General.
(2) The Council shall cause to be kept proper accounts and proper records in relation thereto and when certified by the Council such accounts shall be audited as provided in subsection (3) of this section.
(3) The accounts of the Institute shall be audited as soon as practicable after the end of each year by auditors appointed from the list of auditors and in accordance with the guidelines supplied by the Auditor-General for the Federation.