Annual accounts

(1) The annual accounts prepared by the Finance Officer shall be submitted to such examination and audit as the Government may direct and a copy of the annual accounts and audit report shall be submitted to the Government. (2) The University shall settle objections raised in the audit and carry out such instructions as may be issued by the Government on the audit report. (3) The Government, shall cause the annual accounts and the audit report to be laid before the Legislative Assembly of the State together with their comments. (4) The Finance Officer shall, before such date as may be prescribed by the statutes, prepare the annual financial estimates for the ensuing year. (5) The annual accounts and the annual financial estimates prepared by the Finance Officer shall be placed before the Board together with the remarks of the Finance Committee for approval at its annual meeting and the Board may pass resolution with reference thereto and communicate the same to the Finance Officer who shall take action in accordance therewith.