Section 13, The Tertiary Education Commission Act, 2001

(1) The Commission shall keep proper books of accounts and proper records in relation to the accounts and shall prepare within the period of three months after the end of each financial year, a statement of its accounts in such form as the Auditor-General may direct. (2) The books and accounts of the Commission shall each year be audited by the Auditor-General or an auditor appointed by him and a report on the audit shall be submitted to the Commission. [Margin: Annual Report.]