Accounts and Audit.

(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the income and expenditure account and the balance sheet in such form and in such manner as may be prescribed by the State Government in consultation with the Accountant General, Manipur. (2) The accounts of the Board shall be audited by the Accountant General, Manipur at such interval as may be specified by him and any expenditure incurred in connection with such audit shall be payable by the Board to the Accountant General, Manipur. (3) The Accountant General, Manipur and any other person appointed by him in connection with the auditing of the account of the Board under this Act shall have the same rights and privileges and the Board in connection with such audit as the Accountant General, Manipur has in connection with the auditing of the Government accounts and in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board under this Act. (4) The accounts of the Board, as certified by the Accountant General, Manipur or any other person appointed by him in this behalf together with the audit report thereon, shall be forwarded annually by the Board to the State Government. (5) The State Government shall cause the accounts and audit reports received by the Board under sub-section (4) to be laid, as soon as may be after they are received, before the Manipur Legislative Assembly.