27. Accounts and audit

The Universiti shall keep proper accounts and other records in respect of its operation and shall prepare statements of accounts in respect of each financial year.

The accounts of the Universiti shall be audited annually by the Auditor General.

After the end of each financial year, and as soon as the accounts of the Universiti have been audited but, in any case, before the submission of the annual estimates for the ensuing financial year to the Minister under subsection 26(5), the Board shall cause a copy of the statement of accounts to be transmitted to the Minister, together with a copy of any observations made by the Auditor General on any statement or on the accounts of the Universiti.

The Minister shall cause a copy of every such statement of accounts and observations to be laid on the table of each House of Parliament at its next meeting after the receipt thereof by him.