Section 1. Section 584 of the Revised Administrative Code, as amended by Republic Act No. 2266, is further amended to read as follows:

"SEC. 584. General Jurisdiction of the General Auditing Office. — The authority and powers of the General Auditing Office extend to and comprehend all matters relating to accounting procedure, including the keeping of the accounts of the Government, the preservation of vouchers, the methods of accounting, the examination and inspection of the books, records and papers relating to such accounts and to the audit and settlement of the accounts of all persons respecting funds or property received or held by them in an accountable capacity, as well as to the examination and audit of all debts and claims of any sort due from or coming to the Government of the Philippines in any of its branches. The said jurisdiction shall also extend to all corporations established and organized in accordance with the laws of the Philippines wherein the Government of the Philippines or any of its branches or any corporation owned or controlled by it owns the majority of stocks as well as to all other self-governing boards, commissions or agencies of the government. In the exercise of this jurisdiction, the Auditor-General shall act as the ex officio Auditor of the said corporation, board, commission or agency and, as such, he is empowered and authorized to appoint a representative, known as the Auditor, and fix his salary in an amount equal to the salary authorized for the first assistant or next ranking managing head of the corporation, board, commission or agency, and to appoint and fix the salaries and number of the personnel to assist said representative in his work, but in all cases subject to the approval of the self-governing board, commission or agency of the Government concerned. The personnel expenses and operating costs of his office shall be determined and paid by the corporation, board, commission or agency concerned. Such salaries and number of Auditing personnel may only thereafter be increased, diminished or altered by the Auditor General, subject to the approval of the self-governing board, commission or agency of the Government concerned and said representative and his subordinate personnel may receive such allowances and privileges as may be authorized and approved by the said governing board, commission or agency of the Government upon recommendation of the Auditor General."