Annual accounts and audit

Education201931 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 alongwith the observations of the Governing Body shall be submitted to the sponsoring body.
(4) Copies of annual accounts and balance sheet 47(9). Dissolution (Sub-section)
(9) On receipt of the report under sub-section (8), the Government shall, by notification in the Official Gazette, issue an order dissolving the University and from the date of publication of such notification, the University shall stand dissolved and all the assets and liabilities of the University shall vest in the sponsoring body from such date.

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