Audit and accounts

(1) The Institute shall keep accounts of its transactions and all such accounts shall be audited by an auditor to be appointed by the Board. (2) The members, officers, agents and employees of the Institute shall grant to the auditor appointed under sub-section (1), access to all books, documents, cash and securities of the Institute and shall give to the auditor on request all such information as may be within their knowledge in relation to the operations of the Institute and the Board. (3) The Institute shall, with the approval of the Board, write off bad debts.