Section 19
SECTION 19. Auditor - The Commission on Audit shall recommend to the Board a representative who shall be the Auditor of the Administration and such personnel as may be necessary to assist said representative in the performance of his duties. The salaries of the Auditor and his staff shall be fixed, and paid by the Administration. The Auditing reports shall contain a statement of the resource and liabilities including earnings and expenses, the amount of paid up capital stock, surplus, reserves, and profits, as well as losses, bad debts and such other facts which under auditing rules and regulations, are considered necessary to accurately describe the financial conditions and operations of the Administration: Provided, that, before such reports are made, the Administration shall be given reasonable opportunity to examine the exemptions and criticisms of the Auditor of the Administration or the Chairman of the Commission on Audit as the case may be, to point out, explain or answer any inaccuracies therein, if any, and to file a/statement which shall be appended by the Auditor of the Administration and Chairman of the Commission on Audit in their respective reports.