Accounts and Audit

(1) The SOU Tourism Authority shall maintain proper accounts and other records and prepare an annual statement of accounts, including the income and expenditure accounts and the balance sheet, in such form and in such manner as may be prescribed and shall forward to the State Government. (2) The accounts of the Authority shall be audited every year by and auditor who shall be a Chartered Accountant as defined in Chartered Accountant Act, 1949 or a firm of Chartered Accountants to be appointed by the authority.