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(1) The Board shall establish an accounting and internal audit mechanism that achieves a transparent accountability of the monies of the Fund.

(2) Without limiting the scope of subsection (1) the Board shall keep books of account and proper records in relation to them in the form approved by the Auditor- General.

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

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

(5) The Board may with the approval of the Auditor-General appoint an external auditor for the purpose of this section.