(1) An administrator shall have its accounts audited annually or at such other times as the Director may require by an auditor appointed by the administrator who shall conduct the audit in accordance with international standards on auditing.
(2) The administrator shall forward its audited accounts to the Director within 3 months of the end of the financial year of the administrator unless prior written approval for an extension has been granted by the Director.
(3) When an administrator changes its auditor it shall immediately advise the Director of the change and the reason for the change and the Director shall record that change accordingly.