Clause 16

The Board shall prepare in respect of each financial year terminating on the 31st day of March a statement of account in a form approved by the Minister. Such statement of account shall be audited by a qualified auditor to be appointed in respect of each financial year by the Board with the approval of the Minister, and the auditor shall make a report on the accounts examined by him.

So soon as the accounts have been audited, the Board shall send to the Minister a copy of the statement of accounts and the report thereon by the auditor referred to in subsection (1) of this section, and the Minister shall present a copy of every such statement and report to Parliament.