(1) In accordance with good accounting practice, the Commission shall keep, in such form as may be approved by the Minister, with the consent of the Minister for Finance, all proper and usual accounts of all moneys received or expended by it including an income and expenditure account and balance sheet, distinguishing between -

(a) its functions relating to electronic communications and premium rate services, and

(b) its functions relating to postal matters.

(2)

(a) Within 3 months of the end of each financial year, the Commission shall submit accounts kept under subsection (1) in respect of that financial year to the Comptroller and Auditor General for audit.

(b) Within 42 days of the accounts being audited by the Comptroller and Auditor General, they shall, together with the report of the Comptroller and Auditor General on those accounts, be presented by the Commission to the Minister.

(c) The Minister shall cause copies of the accounts and report referred to in paragraph (b) to be laid before each House of the Oireachtas.

(3) The Commission shall, when presenting the report referred to in subsection (2)(b) to the Minister, present a report to the Minister in relation to -