(1) The Board shall keep books of account and proper records of the Fund in the form approved by the Auditor-General.

(2) The Board shall submit the accounts of the Fund to the Auditor-General for audit within three months after the end of the financial year.

(3) The Auditor-General shall, not later than three months after the receipt of the accounts, audit the accounts and forward a copy of the audit report to the Minister

(4) In addition to the annual audit, other audits may be conducted on selective basis by the Auditor-General or by an auditor appointed by the Auditor-General.