Accounts and audit

(1) The Authority shall keep accounts and other records in relation to its business and shall prepare annually a statement of accounts in a form satisfactory to the Minister, being a form Aquaculture Development [CAP. 204:01 33 which shall conform to the best commercial and accounting standards. (2) The accounts of the Authority shall be audited annually by an independent auditor appointed in each year by the Board with the approval of the Minister.