(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 89