Section 24 — Accounts and audit

(1) The Authority shall keep proper records and accounts of its—

(a) receipts, payments, assets and liabilities, and

(b) income and expenditure,

in a form which conforms with existing laws on accounts and audit.

(2) The Authority shall submit the accounts annually, for auditing by a qualified auditor from the list of auditors and in accordance with the guidelines provided by the Auditor-General for the Federation.