Section 16: Accounts and audit.

(1) The Authority shall prepare and submit to the appropriate authority, not later than 30 June each year, a report on the activities of the Authority during the immediate preceding year and shall include in the report a copy of the audited accounts of the Authority for that year, and the auditors report on it;
(2) The Authority shall cause to be kept proper account of the Authority in respect of each year and shall cause the accounts to be audited not later than six months after the end of each financial year by external auditors appointed from the list and in accordance with guidelines supplied by the Auditor-General of the Federation.