Accounts and audit

Accounts and audit.

1. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance sheet in such form as may be prescribed by the State Government in consultation with the Accountant General, Gujarat.
2. (2) The accounts of the Board shall be audited annually by the Accountant General, Gujarat or by such other person as the State Government may authorise in this behalf and any expenditure incurred by the Accountant General or such other person in connection with such audit shall be payable by the Board to the Accountant General or such other person, as the case may be.
3. (3) The Accountant General, Gujarat and any person so authorised by him in connection with the audit of the accounts of the Board shall have the same rights, privileges and authority in connection with such audit as the Accountant General has in connection with the audit of Government accounts and in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board.
4. (4) The accounts of the Board as certified by the Accountant General, Gujarat or any other person authorised by the State Government in this behalf together with the audit report thereon shall be forwarded annually to the State Government who shall cause the same to be laid before the State Legislature.