(1) There shall be appointed for the Authority an internal auditor who shall be responsible to the Chief Executive in the performance of his duties.

(2) The internal auditor shall at the end of every three months prepare and submit a report of the audit of the Authority to the Chief Executive.

(3) The internal auditor shall prepare at the end of each financial year, a report on the accounts of the Authority for that year and submit the report to the Chief Executive who shall submit the report to the Board.