26.4. The following may not act as the external auditor of a college:(a) a member of the college board;
(b) an employee of the college;
(c) a partner of a person referred to in paragraph a or b;
(d) a person who, during the fiscal year for which the audit is conducted, has, directly or indirectly, personally or through a partner, any share or interest in or in relation to, or commission arising from, a contract with the college, or derives any benefit from such a contract, unless his connection with the contract arises from the practice of his profession.