Article 12. Auditors

1. The General Assembly shall elect two EFFS members or their representatives as auditors. These auditors may not be nationals of the same state, nor may they be nationals of the country in which the EFFS has its registered office. Furthermore, they may not serve as Board members, nor have the same nationality as the President of the EFFS.
2. The Auditors shall serve for a two-year term but can be re-elected.
3. The Auditors shall examine all revenues and expenditure entered in the accounts of the EFFS and verify its annual financial statements with due regard to the provisions stipulated in the EFFS Constitution. The Auditors shall report their findings to the Board and to the members at the General Assembly and shall demand approval of the actions of the Board for the fiscal year under review.