Accounts and audit

(1) The Commission shall keep proper accounts and other records in relation to its business and shall prepare annually a statement of accounts in accordance with generally accepted accounting principles. (2) The Commission shall, with the approval of the Minister of Finance, open and maintain, at such bank or banks as it may from time to time determine, accounts for the funds (3) All accounts of the Commission shall be audited annually by the Auditor-General and his staff.