Audit report.

(1) As soon as practicable after the completion of audit of the accounts of the Municipality, but not later than the thirtieth day of September each year, the Auditor shall prepare a report of the accounts audited and examined and shall send such report along with the report of the results of the test check of accounts of the Comptroller and Auditor-General of India to the Chief Municipal Officer. (2) The Auditor shall include in the report as aforesaid a statement of- (a) every payment which appears to be contrary to law, (b) the amount of any deficiency or loss which appears to have been incurred by the negligence or misconduct of any person, (c) the amount of any sum received which ought to have been, but has not been, brought into account by any person, and (3) The Chief Municipal Officer shall place the audited financial statement, the balance sheet and the report of the Auditor and his comments along with the report of the results of the test check of accounts of the Comptroller and Auditor-General of India before the Executive Authority, who, after the examination thereof, shall place them before the Municipality with its comments, if any.