45.—(1) The accounts of the Commissioners shall be audited annually by an auditor or firm of accountants appointed by the Commissioners and a person or firm shall not be qualified to be so appointed unless he is a member, or in the case of a firm all the partners are members, of one or more of the following bodies:—
(a)the Institute of Chartered Accountants in England and Wales;
(b)the Institute of Chartered Accountants of Scotland;
(c)the Assocation of Certified Accountants;
(d)the Institute of Chartered Accountants in Ireland;
(e)any other body of accountants established in the United Kingdom and for the time being recognised for the purposes of section 389 of the Companies Act 1985(1)
(2) The report of the auditor on the accounts of the Commissioners for each financial year shall be submitted to a meeting of the Commissioners as soon as reasonably practicable following the year of account.