Section 3Sec./Art. 3

The grantee shall keep a separate account of the gross receipts of its telecommunications business and shall furnish to the Commission on Audit and the Treasurer of the Philippines, not later than the thirty-first day of July of each year, a copy of such accounts covering the twelve (12) months preceding the first day of July.

All the books and accounts of the grantee pertaining to the business transacted under this franchise shall be subject to the official inspection of the Commission on Audit or its duly authorized representative, and the audit and approval of such accounts shall be final and conclusive evidence as to the amount of said gross receipts, except that the grantee shall have the right to appeal to the courts under the existing laws.