(1) A self-regulatory organisation shall, with the approval of the Commission, appoint auditors.
(2) A self regulatory organisation shall require each of its members to appoint an auditor who shall—
(a) examine the member's financial affairs in accordance with the rules of the organisation;
(b) report the results of the examination to the auditor of the organisation.
(3) A person shall not be qualified for appointment under subsection (1) or (2) unless he or she is an accountant.
(4) The auditor of a self-regulatory organisation shall provide to the Commission on request a copy of a report received by him or her under subsection (2).