Annual accounts and audit.

1. (1) The annual accounts including balance sheet of the university shall be prepared under the directions of the Board of Management and the annual accounts shall be audited at least once in every year by the auditors appointed by the university for this purpose.
2. (2) A copy of the annual accounts together with the audit report shall be submitted to the Governing Body.
3. (3) A copy of the annual accounts and audit report along with the observations of the Governing Body shall be submitted to the sponsoring body.
4. (4) Copies of annual accounts and balance sheet prepared under sub- section (1) shall also be presented to the Visitor and the Government. The advice of the Government or the Visitor, if any, arising out of the accounts and audit report of the university shall be placed before the Governing Body. The Governing Body shall issue such directions, as it may deem fit, and compliance shall be reported to the Visitor or the Government, as the case may be. Powers of Government to inspect university and academic and administrative audit

44. (1) The Government may cause an assessment to be made, in such manner,

as may be prescribed, for the purpose of ascertaining the standards of teaching, examination and research or any other matter relating to the university.*

1. (2) The Government for ascertaining and ensuring quality at different levels of higher education in a university and for its continued sustenance shall conduct Penalties annual academic and administrative audit through Higher Education Department, Haryana or any other body or persons authorized by it, which shall scrutinize whether the university is complying with and functioning in accordance with the provisions of this Act, Statutes, Ordinances, Rules, bye-laws, instructions and the conditions of the Letter of Intent.*
2. (3) Such persons or body shall give their report within three months to the Government with specific recommendations and deficiencies, if found. The Government shall consider the report and issue a show cause notice of thirty days to the Chancellor as to why action should not be initiated against the university for the deficiencies noticed.*
3. (4) After considering the reply to the show cause notice, the Government shall have the power to impose penalty under the Act.*