Accounts and Audit

Education200537 of 39 sections available

Statutory text

(1) The annual accounts and balance sheet of the University shall be prepared under the directions of the Board of Management:-(i) The accounts of the University shall be audited at least once in a year by the auditors appointed by the University; (ii) The audit report shall be published on the website of the University; (iii) A copy of the audit report shall be submitted to the Regulatory Commission; (iv) The State Government shall have the power to audit any University at any time; (v) The audited annual accounts shall be submitted to the State Government; (vi) The audit shall be conducted in accordance with the provisions of this Act; (vii) The University shall maintain proper accounts; (viii) The audit report shall be placed before the Board of Management; (ix) The University shall comply with the observations made by the audit team. (2) The University shall maintain such books of account and other books in relation to its accounts in such form and in such manner as may be prescribed. (3) The accounts of the University shall be audited at least once in two years by the Chartered Accountants. (4) The University shall publish the annual report on its website. (5) The University shall submit the annual report to the State Government as well as to the Regulatory Commission.

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