(1) A licensee shall have its accounts audited annually or at such other times as the Minister may reasonably require by an auditor who shall conduct the audit in accordance with international standards on auditing. (Amended by Act 5 of 2012)
(2) The audited accounts shall be forwarded to the Minister within 3 months of the end of the financial year of the licensee, unless prior written approval for an extension has been granted by the Minister.
(3) The auditor shall also confirm whether the requirement for the handling of bank accounts of companies and trusts represented by the licensee is being complied with as the date of the licensee's financial year end, and whether the licensee has procedures in place to ensure compliance during the remainder of the period to which the accounts relate.