(1) The Board shall keep accounts of its transactions to the satisfaction of the Minister and such accounts shall be audited annually by an auditor appointed by the Board with the approval of the Minister.
(2) The members, officers, and other employees and agents of the Board shall grant to the auditor appointed under subsection (1) access to all books, documents, cash and securities of the Board and shall give to the auditor on request all such information as may be within their knowledge in relation to the operations of the Board.