Section 9
SEC. 9. Section twelve of Republic Act Numbered Thirteen hundred, as amended, is further amended to read as follows: "AUDITING DEPARTMENT" "SEC. 12. Bank Auditor, salaries and expenses of the Auditing Department, reports. — The Auditor General shall be the ex officio auditor of the National Bank and shall with the advice and consent of the President of the Philippines appoint a Bank auditor who shall be the chief of the Auditing Department of the Bank, and shall receive the salary in an amount equal to the salary of the Executive Vice-President of the Bank. All the other employees of the department shall be appointed by the Auditor General, who with the approval of the President of the Philippines, shall fix the salaries of the same in accordance with the job evaluation program of the Bank. Any provision of- law or charter to the contrary notwithstanding, such salaries and number of Auditing Personnel, once fixed, shall not be thereafter increased, diminished or altered unless initiated by the Auditor General. The Bank Auditor and his subordinate personnel shall also receive such allowances and privileges as are or shall be authorized to management personnel having the same rank and/or salary. "The operating expenses of the department and the salaries and traveling expenses of the employees thereof shall be payable by the bank and the Board of Directors shall make the necessary appropriation therefor which shall not exceed three (3%) per cent of the gross income of the Bank during the preceding calendar year. "The appointment and removal of the Bank Auditor and subordinate officials and employees of the Auditing Department shall be made by the Auditor General in accordance with the established personnel policies of the Bank; Provided, however, That in the promotion of subordinate officials and employees of the department, the Auditor General shall be guided by a list of qualified and eligible personnel to be submitted by the Bank Auditor with a certification that merit and seniority have been strictly observed. "The Bank Auditor shall make a quarterly audit report, or as often as the exigencies of the service may require, on the condition of the Bank, to the President of the Philippines, through the Secretary of Finance, to the Auditor General and to the Board of Directors of the Bank. The report shall contain, among other things, a statement of resources and liability, including earnings and expenses, the amount of capital stock, dividends paid, surplus reserve, and undivided profits, as well as the losses, bank debts and suspended and overdue paper carried in the Bank's assets as of the day in which the statements are compiled."