Section 3871. Audits

1. The accounts of the authority shall be subject to
  the audit of the comptroller and the state comptroller. In addition, the
  authority shall be subject to an annual financial audit performed by  an
  independent  certified  accountant selected by the authority. Such audit
  report shall be submitted  to  the  city,  the  presiding  officer,  the
  comptroller,  the governor, the state comptroller, the chair and ranking
  minority member of the  senate  finance  committee  and  the  chair  and
  ranking minority member of the assembly ways and means committee.
    2.  For  each  fiscal  year during the existence of the authority, and
  within one hundred twenty days after the  close  of  the  city's  fiscal
  year,  the  city  shall  submit  its audited financial statements to the
  authority.