Annual Accounts and Audit

(1) The annual accounts of the Institute shall be prepared under the directions of the Executive Council. (2) The accounts of the Institute shall be audited at least once in a year by auditors appointed by the Executive Council: Provided that whenever considered necessary, the State Government shall have the power to direct that the accounts of the Institute, including those of the institutions managed by the Institute, be audited by such auditors as it may specify. (3) The accounts, when audited, shall be published by the Executive Council and a copy each of the accounts and the audit report along with it shall be placed before the General Council and shall also be submitted to the State Government. (4) The annual accounts shall be considered by the General Council at its annual meeting. The General Council may pass resolutions with reference thereto and shall communicate the same to the Executive Council. The Executive Council shall consider the suggestions made by the General Council and take such action as it deems fit; the Executive Council shall inform the General Council of all actions taken or reasons for not taking action in its next meeting.