Section 23
SEC. 23. Section 42 of the same Act is hereby repealed entirely and a new provision to be known as Section 42 is inserted which shall read: "SEC. 42. Auditing. — The Auditor General shall act as ex-officio auditor of the Authority and as such is empowered and authorized to appoint a representative who shall be the auditor thereof and fix his salary in an amount equal to the salary authorized for the first Assistant or next ranking Managing Head of the Authority. The Auditor General shall, upon recommendation of the Auditor of the Authority, appoint personnel, subject to the approval of the Board. The Personnel expenses and operating costs of his office shall be determined and paid by the Authority. Such salaries and number of auditing personnel may only thereafter be increased, diminished or altered by the Auditor General, subject to the approval of the Board, and said representative and his subordinate personnel may receive such allowances and privileges as may be authorized and approved by the Board upon recommendation of the Auditor General. Such representative shall render an annual audit report on the financial condition and operations of the Authority to the Board thru the Auditor General. The Auditor General shall submit his annual report to the President and the National Assembly.