The Board must include in each annual report of the Board as part of the report of its operations a report as to any action taken by the Board during the period to which the report relates to implement any recommendation made in a report of the Ombudsman or the Auditor-General concerning the Board or the University--
(a) whether or not the recommendation relates to a referral by the Minister under section 32E, and
(b) whether or not the recommendation relates to a University commercial activity (as defined in section 32A).