(1) Each Council must keep proper records of its accounts in relation to the execution of its functions under this Act for a period of not less than 7 years.
(2) Each Council shall prepare a statement of accounts in respect of each financial year.
(3) The Director of Audit may at any time and shall, on the direction of the Minister responsible for Finance, carry out an investigation or audit of the accounts of each Council.
(4) The Minister responsible for Finance may appoint a special auditor to audit the accounts of a Council on any project or activity undertaken by that Council.
(5) Each Council shall, as soon as practicable after the end of each financial year, and not later than 6 months after the end of that financial year, submit to the Minister a report containing in respect of each Council—
(a) a detailed account of its activities during the preceding financial year, in such detail as the Minister directs; and
(b) a statement of the audited accounts for that financial year.
(6) A copy of the report and statement of audited accounts referred to in subsection (5) shall be laid before Parliament and published in the Gazette not later than 3 months from the date of receipt by the Minister.