Section 10, The Architects Act, 1986

(1) The Council shall establish and maintain a fund under its management and control, into which shall be paid all monies received by the Council, by way of grants-in-aid from Government or otherwise and out of which shall be met all expenses and liabilities incurred by the Council in the carrying out of its functions under this Act. (2) The Council may invest monies in the fund in any securities of the Government or in any other securities approved by the Council. (3) The Council shall keep proper books of account and proper records in relation thereto. (4) The accounts of the Council shall be in such form as the Auditor-General may approve. (5) The annual accounts of the Council shall be audited by a Chartered Accountant approved by the Council. (6) The Council shall meet and discuss and approve the audited accounts of the Council as soon as possible after receipt of such accounts by the council and the Chairman and the Registrar shall cause a copy each of the accounts as so approved to be forwarded forthwith to the following— (a) the Minister, and (b) the Auditor-General. (7) The financial year of the Council shall be the same as the financial year of the Government except that the period beginning with the commencement of this Act and ending with the end of the financial year of the Government in which this Act comes into force shall be deemed to be the first financial year of the Council. [Margin: Power of Council to make bye-laws.]