Section 16
SEC. 16. Auditor— In consonance with existing laws and regulations, the Com mission on Audit shall be appointed to audit the accounts of the Authority. In the fulfillment of international contractual commitments of the Authority, however, the Board may engage the services of any person or firm duly authorized by law for the audit of accounts, to audit the accounts of the Authority. The auditor shall be paid out of the revenue of the Authority such remuneration, compensation or expenses as the Board may determine.