External audit requirement: statutory auditor must audit the Authority's accounts and reports are to be laid before Parliament. The Authority must maintain proper accounts and prepare an annual statement of accounts in the prescribed form; its accounts are subject to an external annual audit by the statutory auditor, with audit-related expenditure payable by the Authority. The auditor and appointees have full audit powers to demand documents and inspect offices. Certified accounts and the audit report must be forwarded annually to the Central Government for laying before Parliament.