Section 34, Act, 2002 (Act No 12 0f 2002);

(1) The Company shall keep proper books of account andother records in relation to the activities, property and finances of the Company in a form approved by the Auditor-General and shall prepare, in respect of each financial year, a financial statement which shall include- 20 21 Secondment of public officers. Protection of officers, etc. Experts and consultants. Departments of Company. Directors of Departments. Funds of company. Accounts and audit of company. Other Staff of company. (a) balance sheet accounts; (b) income and expenditure accounts; and (c) source and application of funds. (2) The accounts of the Company kept under subsection (1), shall, not later than 2 months after the end of each financial year, be audited by the Auditor-General or an auditor appointed by him. (3) For the purposes of subsection (2), the Auditor- General or the auditor appointed by him shall be entitled to have access to all books of account, and other financial records of the Company and to require such information and explanation thereon as he may think fit. (4) The Company shall provide the Auditor-General or the auditor appointed by him with all necessary and appropriate facilities for the examination of the accounts and records of the Company. (5) The Auditor-General or the auditor appointed by him shall submit to the Company a report on the audited accounts and the financial statements referred to in subsection (1) and shall, in his report draw attention to– (a) any irregularities in the accounts; (b) any matters that are likely to adversely affect the operations of the Company; and (c) any other matter which, in his opinion, ought to be brought to the notice of the Company.