Electronic and Postal Communications (Accounting Separation)  G.N. No. 426 (contd)  between the main business units for services the licensee provides to itself and also disclose the equivalent transactions with competing licensees. (4) The separated accounts shall be prepared annually and shall contain comparative information following the previous period. Presentation of Financial Statement 6.-(1) The licensee shall, for every business unit or disaggregated activity submit to the Authority the following(a) statement of comprehensive Income; (b) statement of financial position; and (c) notes of financial statements. (2) The statement of comprehensive income shall disclose revenues and operating costs. (3) The profit s shall be stated before interest and tax. (4) All accounts shall show any transfer charges to or from other business unit or disaggregated activity. (5) The licensee shall present current and non-current assets and current and non-current liabilities as separate classifications in its statements of financial position. (6) A licensee shall, in addition to the requirements under sub-regulation (1) submit to the Authority(a) a statement of costs along with the reconciliation between result calculated apportioning of costs in a particular product or service; (b) reconciliation of the separated account to the audited statutory accounts of the licensee; (c) detail of significant changes in internal accounting policies, and estimates together with reasons of change if any. (7) The reconciliation shall be made at the aggregated level for both the financial position information and Profit and Loss statement with any material reconciling item identified separately. Audit of separated accounts 7.-(1) The separated accounts shall be subject to an independent audit. (2) The Licensee shall appoint auditors to carry out the audit of the separated accounts and shall notify the Authority of such 139