(a) The Authority shall keep full and accurate accounts of its activities and operations and shall annually in the month of January make a report to the Governor, the Controller General, the Speaker of the House of Representatives, the President Pro Tempore of the Senate and the Secretary of Finance.
(b) The report shall cover the preceding fiscal year and shall include a complete operating and financial statement for that year and a summary of the residences of the recipients of education loans. The Authority shall cause an audit of its books and accounts to be made at least once each year by independent certified public accountants, and the cost thereof shall be paid by the Authority from funds available to it pursuant to this chapter.