A professional independent monitor such as a certified public accounting firm or similar entity shall observe the conduct and outcome of each auction and issue a report to the committee in accordance with professional auditing standards addressing whether the auction was conducted in accordance with the rules and procedures in the respective notice of CO₂ allowance auction. Upon receipt and approval by the committee of the report and upon payment in full by successful bidders, the authority shall transfer or have transferred the corresponding CO₂ allowances to each successful bidder’s applicable compliance or general account.