Accounts and audits

(1) Each Board shall keep proper accounts in respect of its water operations and shall prepare a statement of account for each financial year. 36 (2) The accounts of each Board shall be audited by the Auditor General. (3) As soon as possible after the months of June and December in each year, each Board shall submit to the Minister a copy of its income and expenditure for that period together with a statement of the assets and liabilities of the Board at the end of the relevant period.