| 15.1 | The Ombud is the accounting officer in respect of all funds received and all payments made in respect of expenses incurred by the MIOSA. |
| 15.2 | The Ombud, as accounting officer, must ensure that proper accounting records for the recording of all the MIOSA's transactions are kept, which records will: |
| 15.2.1 | be kept at the main offices of the MIOSA regarded as such from time to time by the Board; |
| 15.2.2 | at all times during normal working hours, be available for inspection by the Minister, the NCC and the Board or their duly appointed and authorised representatives. |
| 15.3 | The MIOSA will ensure that financial statements consisting of: |
| 15.3.1 | an income and expenditure account for the financial year under observation; and |
| 15.3.2 | a balance sheet reflecting the financial position of the MIOSA at the end of the financial year, |
are prepared by a firm of auditors appointed by the board of the MIOSA as soon as possible after the financial year end, but not later than 90 (ninety) days after the financial year end.
| 15.4 | A copy of the financial statements must as soon as possible, but not more than 7 (seven) days after those statements have been prepared, be made available to each member of the Board. |
| 15.5 | The Board will, within one month of the finalization of the financial statements, meet to consider, provide comment and/or approve such financial statements. |
| 15.6 | A copy of the approved financial statements will be made available to the Minister, the Commissioner of the NCC and each member of the Board. |
