Maintaining of accounts

After Section 71 of the Principal Act, the following shall be inserted, namely:-"71-A. Maintaining of accounts.- (1) The Authority shall keep accounts in such form and in such a manner as it may by regulations made in this behalf determine. (2) The Authority shall adopt accrual-based double entry system of accounts and shall endeavor to adopt international best practices in regard to financial documentation. (3) The Authority may provide for internal Audit of the day to day Accounts of the Authority. (4) The accounts of the Authority shall be audited by the Auditor, appointed by the State Government from time to time in this regard. (5) The audit shall be as thorough a possible, and be made in such manner as may be determined by the regulations from time to time."