Accounts and auditing

Education196958 sections9 chapters

Chapter VII FUNDS AND ACCOUNTS

Statutory text

(1) The annual accounts of the University shall be prepared by the Comptroller under the direction of the Vice-Chancellor, and all moneys accruing to or received by the University from whatever source and all amounts disbursed and paid by the University shall be entered in the accounts.
(2) The annual accounts and the balance sheet shall be submitted by the Vice-Chancellor to the State Government which shall cause an audit to be carried out by a chartered accountant or by an auditor appointed by the State Government in consultation with the Accountant General, Gujarat State. The accounts when audited shall be printed and copies thereof together with the copies of the audit report shall be presented by the Vice-Chancellor to the Board and the Chancellor.
(3) The Board shall submit a copy of the accounts and the audit report to the State Government along with the statement of the action taken by the University on the audit report and the State Government shall cause the same to be laid before the State Legislature.

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