A. Every institution shall at all times keep proper, complete and separate accounting systems, books and records of account for an authorised and approved scheme.
B. The Agency and the relevant institution shall agree on the form and content of all reports, statements and other documentation to be provided to the Agency and the scheme participants, as well as the regularity of, and time periods within which, such reports, statements and documents are to be provided.
C. The Agency shall be provided each year with a detailed report for each scheme authorised and approved by it. Scheme participants shall be provided each year with such a report for the scheme in which they have participated. Any report to be provided under this paragraph 4. C shall include the financial statements for such scheme, which statements shall be (i) prepared in accordance with standards acceptable to the Agency and (ii) audited by a firm of accountants approved by the Agency. Such auditors shall be and act, at all times and in all respects, independently of the scheme and any person involved in the management and operation thereof.
D. Every institution shall provide to the Agency, in form and substance satisfactory to it, such information in relation to an authorised and approved scheme as the Agency may require from time to time.