Accounts and audit

Accounts and audit:

1. (1) The Corporation shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as may be prescribed by the Government in consultation with the Accountant General.
2. (2) The accounts of the Corporation shall be audited annually by the Accountant General or any other person authorised by him in this behalf and any expenditure incurred by him or any person so authorised by him in connection with such audit shall be payable by the Corporation to the Accountant General.
3. (3) The Accountant General and any person authorised by him in connection with the audit of the accounts of the Corporation shall have the same rights, privileges and authority in connection with such audit as the Accountant General has in connection with the audit of Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Corporation.
4. (4) The accounts of the Corporation as certified by the Accountant General or any other person authorised by him in this behalf together with the audit report thereon shall be forwarded annually to the Government and the Government shall cause the same to be laid before the Legislative Assembly of the State.