(3) The Government of Southern Sudan and the states may
borrow money from foreign sources based on their respective
credit worthiness.
(4) Foreign borrowing by all sub-national levels of government
shall be in a manner that does not undermine national
macroeconomic policies and shall be consistent with the
objective of maintaining external financial viability. All foreign
borrowing transactions of sub-national levels of government
shall conform to the Central Bank of Sudan specifications.
CHAPTER VII
ACCOUNTING STANDARDS
Accounting Procedures, Standards and Fiscal Accountability
204(1) All levels of government shall comply with generally accepted
accounting procedures, standards and fiscal accountability to
ensure that public funds are allocated and expended
according to the budget of such level of government.
(2) All levels of government shall hold all incomes and revenues
received in public accounts and subject to public scrutiny and
accountability.
(3) The accounting procedures, standards and fiscal
accountability shall be regulated by law.
National and Southern Sudan Audit Chambers
205
(1) There shall be established an independent National and an
independent Southern Sudan Audit Chambers.
(2) The National Audit Chamber shall set auditing standards for
the whole country and supervise the financial performance
of the national government, including revenue collection and
expenditure, in accordance with the budgets approved by
the national and state legislatures.
(3) The President of the Republic, with the approval of a twothirds majority of the National Assembly shall appoint the
National Auditor General from qualified professionals, who
shall head the National Audit Chamber and shall take oath
before the President of the Republic. The National Auditor
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