Annual accounts

(1) The annual accounts and the balance sheet of the University shall be prepared and placed before the Finance Committee for approval and shall, at least once every year at intervals of not more than fifteen months, be audited by the Controller and Auditor General of India or such person or persons as he may authorize in this behalf. (2) A copy of the annual accounts together with the audit report shall be submitted first to the Board of Management and then to the Government along with the observations, if any, of the Board. (3) A copy of the annual accounts together with the audit report shall be submitted to the Government which shall, as soon as may be, cause the same to be laid before the Legislative Assembly of Delhi.