Auditing.
Section 30
SEC. 30. Auditing.—The Auditor General shall be ex-officio auditor in charge of the auditing office of the Company. He shall appoint a representative who shall be the auditor thereof. The Auditor General shall, upon the recommendation of the auditor of the Company, appoint or remove the other officials and personnel of the auditing office in accordance with the merit system of the Company. The operating expenses of this office and the salaries and traveling expenses of the officials and employees thereof shall be fixed by the Board and paid by the Company. Internal auditing of the accounts and transactions of the Company shall be its sole responsibility. Audit by the Auditor General shall be conducted on a post-audit basis and the Company shall be entitled to disburse funds without prior approval from the Auditor General. The result of such audit shall be transmitted to the Board through the Chairman and to the Preside and the Congress of the Philippines.