62. Financial year and audit of accounts

The Financial year of the Authority shall be the calendar year.

The Authority shall cause proper books of accounts to be kept of the income and expenditure, assets and liabilities and all other transactions of the Authority.

The provisions of Article 154 of the Constitution relating to the audit of the accounts of public corporations shall apply to the audit of accounts of the Authority.

The Authority shall submit the audited statement of accounts together with the Auditor-General’s report to the Minister within five months of the end of the financial year to which such report relates. The Minister shall place such statement and the report before Parliament within two months of the receipt thereof.