Accounts and Audit

(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance sheets in such form as may he prescribed. (2) The accounts of the Board shall be audited by suchperson as the Government may appoint in this behalf. (3) The Auditors appointed by the Khadi and Village Industries Commission shall have the right to audit and inspect the accounts of the Board pertaining to the funds advanced by the Khadi and Village Industries Commission. (4) The person appointed under sub-section (2) and (3) shall, in connection with such audit, have such rights privileges and authority as may he prescribed and in particular, such auditor shall have the right to demand the production of hooks, accounts, connected vouchers and other documents and to inspect any of the offices of the Board. (5) The Accounts of the Board as certified by such auditor together with the audit report thereon shall he forwarded annually to the Government and the Khadi and Village Industries Commission before such date as the Government may specify in this behalf. (6) The Board shall comply with such directions as the Government may, after perusal of the report of the auditor, think fit to issue.