Annual accounts and audit

Education201450 sections

Statutory text

(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) A copy of the annual accounts together with the audit report shall be submitted to the Governing Body.
(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) Copies of the annual accounts and balance sheet prepared under sub-section (1), shall also be presented to the Government.
(5) The advice of the Government, if any, arising out of the accounts and audit report of the University shall be placed before the Governing

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