Accounts and Audit

(1) The Academic Council shall prepare the annual accounts and balance sheet for each financial year. Any deficiency, accounts, balance sheets or account statements placed before the University shall be audited by the auditors appointed by the Executive Council, unless the audit is conducted by the State Government or by any authority appointed by the State Government. (2) No person shall be appointed as an auditor if they have any direct or indirect interest in the University. (3) The Academic Council shall submit a copy of the annual accounts to the State Government. (4) The report of the auditor shall be placed before the Executive Council for consideration.