The Authority shall establish a financial control office which reports directly to the Chairman of the Board/the Managing Director, along with the proper number of financial controllers and administrative assistants which report to the office director. The office director and the financial controllers shall be appointed by the Chairman of the Board/the Managing Director, the financial controller shall have the following competences: 1. Review the disbursement vouchers or payment vouchers to ensure the validity of procedures and compliance with laws, bylaws and financial regulations as well as the validity of the accounting treatment. In addition to that, he shall sign them before disbursement or payment. 2. Supervise the revenues and expenditures of the budget as well as the assets and the liabilities in accordance with the applicable laws, bylaws and approved systems as well as the adopted accounting standards. 3.Verify the validity of accounting reconciliations and their compliance with the applicable financial rules and recognized accounting principles. 4.Verify the collection and payment of the Authority’s revenues in accordance with the financial laws, bylaws and regulations. 5. Review the records, books and accounting systems to ensure the accuracy of information therein. 6. Prepare periodical reports regarding the results of his work and submit the same to the Chairman of the Board/the Managing Director. 7. Follow up the execution of the directions or recommendations issued by the Chairman of the Board/the Managing Director regarding the financial aspects, and follow up the execution of the recommendations of the State Audit Bureau and the procedures to be taken to meet any observations they may make concerning the financial transactions of the Authority. 8. All other competences assigned to him by virtue of the relevant financial regulations, decisions or circulars.