Section 29: Annual budget and audit

(1) The Institute shall cause to be prepared not later than 30 September in each year an estimate of the expenditure and income of the Institute during the next succeeding year and when prepared, they shall be submitted to the President.
(2) The Institute shall cause to be kept proper accounts of the Institute and proper records in relation to it and when certified by the Institute, the accounts shall be audited by auditors appointed by the Institute from the list and in accordance with the guidelines supplied by the Auditor-General for the Federation.