Accounts and Audit

(1) The Board shall maintain proper account and other relevant records and prepare the annual statement of account including the balance-sheet in such form and according to such procedure as may be prescribed by the State Government. (2) The accounts of the Board shall be audited once in every year and if so requested by the State Government concurrently with the compilation of such accounts by an auditor appointed by the State Government in consultation with the Comptroller and Auditor General of India (hereinafter referred to as the Auditor) and any amount payable to such Auditor by the Board in respect of such audit shall be chargeable to the General Fund of the Board. (3)The Auditor shall have the same rights, privileges and authority in connection with the audit of the accounts of the Board as the Comptroller and Auditor General of India has with regard to the audit of the State Government accounts in particular, shall have the right to demand production of books of accounts, related vouchers and other relevant records of the Board necessary for the purpose of audit.