Chapter 7 Chapter 7 Accounts of the Central Bank
Article (33) Financial Year
The financial year of the Central Bank shall be the same as the Government's financial year.
Article (34) The Budget(a) The Central Bank shall have an independent budget and shall keep audited accounts for each financial year.(b) The Governor shall prepare a budget for each financial year and submit it to the Board for approval prior to the commencement of the financial year.(c) The Board shall approve the budget before the commencement of the new financial year. If the approval of the budget is delayed beyond the commencement of the financial year, the Central Bank shall operate within the previous year's budget until the new budget has been approved.
Article (35) Auditing of Accounts(a) An external auditor shall audit The Central Bank's accounts. The appointment and fees of such auditor shall be decided by the Board in coordination with the National Audit Court.(b) The auditor shall prepare a report on the final accounts.(c) The Central Bank shall provide the external auditor with all necessary information and facilities to enable him to prepare the report referred to in paragraph (b) above.(d) Save as provided for in this Article, the Central Bank's accounts shall not be subject to any other external audit.
Article (36) Reports and Approval of Final Accounts(a) The Governor shall, within three months immediately following the end of the financial year, present to the Board a report on the operations of the Central Bank during the preceding financial year, together with a copy of the audited final accounts of the Central Bank and the external auditor's report.(b) The Central Bank shall submit copies of the annual report of the Central Bank, the final audited accounts after being approved by the Board, and the external auditor's report to the Council of Ministers(c) The Bank shall submit copies of the external auditor's report and the approved final accounts, to the National Audit Court.(d) The Central Bank's final accounts, approved by the Board, and the auditor's report shall be published in the Official Gazette.