s 22 Accounts
(1) The Authority shall keep proper accounts and proper records in relation to the accounts, and shall prepare in respect of each financial year a statement of accounts in such form as the Postmaster General with the approval of the Treasury may direct, being a form which shall conform with the best commercial standards. (2) The accounts of the Authority shall be audited by auditors to be appointed by the Authority with the approval of the Postmaster General, and a person shall not be qualified to be so appointed unless he is a member of one or more of the following bodies— The Institute of Chartered Accountants in England and Wales ; The Institute of Chartered Accountants of Scotland ; The Association of Certified and Corporate Accountants ; The Institute of Chartered Accountants in Ireland ; Any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 161(1)(a) of the Companies Act 1948 by the Board of Trade. (3) As soon as may be after the end of every financial year, the Authority shall prepare a general report of their proceedings during that year, and transmit it to the Postmaster General who shall consider it and lay copies of it before each House of Parliament. (4) The said report shall have attached to it the statement of accounts for the year and a copy of any report made by the auditor on that statement and shall also include such information relating to the plans, and past and present activities, of the Authority, and the financial position of the Authority, as the Postmaster General may from time to time direct. (5) The Authority shall at all reasonable times upon demand made by the Postmaster General or by any person authorised by him in that behalf— (a) afford to him or them full liberty to examine the accounts of the Authority ; and (b) furnish him or them with all forecasts, estimates, information and documents which he or they may require with respect to the financial transactions and engagements of the Authority.