Electronic and Postal Communications (Accounting Separation)  G.N. No. 426 (contd)  appointment within seven days of such appointment. (3) All audit work carried out on the separated accounts shall be at the expense of the licensee. (4) The auditors shall plan and carry out such work as to enable them to provide an independent audit opinion on the separated account. (5) The auditors shall take into consideration the following aspects that report (a) is presented in accordance with the accounting methodologies that are to be attached to the separated accounts, the results, mean capital employed and costs incurred by each of the business units and disaggregated activities disclosed in the separated accounts; (b) comply with the act, the rules, the regulations, directives or decisions and determinations issued by the authority; and (c) contain the information specified in the guidelines, as required to be published in the accounts. (6) Where the Authority is not satisfied with results of audit of separated accounts, Authority shall appoint another auditor to audit, review or verify at the expense of the Authority. (7) Where any such matters have come to the auditors' attention, these matters shall be clearly described in their report together with, where reasonably possible, the potential monetary impact on the results, mean capital employed or costs incurred by each of business unit or disaggregated activity disclosed in the accounts, or a statement that the estimation of the potential monetary impact is not reasonably possible to establish. (8) The auditors shall address their report to the licensee. (9) Notwithstanding the provision of sub-regulation (8), the audited report shall be attached but shall not form part of the separated account submitted to Authority. (10) The auditors' report shall clearly set out the respective responsibilities of the auditor and the licensee and the basis on which the audit has been carried out and the opinion arrived at. 140