(1) The Council shall ensure that the University keeps books of account and proper records in the form approved by the Auditor-General.
(2) The Council shall submit the annual accounts of the University to the Auditor-General for audit within three months after the end of the financial year.
(3) The financial year of the University shall be the same as the financial year of the Government.
(4) The accounts shall be under the signature of the Vice-Chancellor and Director of Finance.
(5) The Auditor-General shall, not later than three months after the receipt of the accounts, audit the accounts and forward the audit report to Parliament with a copy to the Minister.