Accounts & Audit

(1) The annual accounts of the University shall be prepared by the Finance Officer under the direction of the Vice - Chancellor and all monies 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 accounts of the University shall be audited by the Director of Local Fund Audit: Provided that the Comptroller and Auditor General shall be competent to audit the accounts of the University in respect of the grants disbursed by the Government and utilised by the University. (3) The accounts when audited shall be printed and copies thereof together with the audit report shall be presented by the Vice - Chancellor to the General Council, the Executive Committee and the Chancellor. (4) The Executive Committee shall submit a copy of the accounts and the audit report to the Government along with a statement of the action taken by the University on the audit report, and the Government shall cause the same to be laid before the Legislative Assembly.