(1) The Chief Financial Officer shall administer and account for the management of the Bank's funds and their optimum utilisation within the policies and guidelines established by the Board and by or under this Act.
(2) The Internal Auditor shall be responsible to the Board for —
(a) monitoring all financial transactions of the Bank to assess compliance with the established policies of the Bank;
(b) reviewing the internal controls established by management; and
(c) assessing and reporting on areas of real or potential risk to the Bank;
and shall report and make recommendations on his or her findings to the Board.