Powers and Functions of the Audit and Oversight Committee.

1. It shall prepare the financial rules of the Party and submit to the National Executive Committee for examination and adoption;
2. It shall ensure the strict implementation of the financial rules of the Party and also ensure that the budget is prepared, adopted and implemented in conformity therewith;
3. It shall, on a constant basis, review the financial performance of the Party, execution of the budget by Party officials and make recommendations to the National Executive Committee  for appropriate action;
4. It shall examine the annual financial report of the National Financial Secretaries and National Treasurers and make recommendations to the National Executive Committee  for quitus or non quitus;
5. It shall maintain an up-to-date inventory of all property, moveable and immovable, of the Party and make recommendations to the National Executive Committee for their effective use, deployment and improvement;
6. It shall present a comprehensive report of the financial situation and property ownership of the Party to the Convention;
7. The financial year of the Party shall run from 1^st January to 31^st December.