(1)The Council shall keep proper accounts of all sums received or paid by them and proper records in relation to those accounts.
(2)The Council shall appoint auditors to the Council who shall be members of a recognised body of accountants.
(3)The Council shall cause their accounts to be audited annually by the auditors to the Council and as soon as is practicable after the accounts for any period have been audited the Council shall cause them to be published and shall send a copy of them to the Secretary of State together with a copy of any report of the auditors thereon.