Account and Audit

(1) The Chief Executive Officer of the Authority shall maintain the accounts and other relevant records of the Authority and, at the end of each financial year, shall prepare an annual statement and present it before the Authority and send a copy thereof to the State Government. (2) The auditing of the annual accounts of the Authority shall be done by an experienced Chartered Accountant or an equivalent post-holder person appointed by the Authority. (3) The audited accounts of the Authority shall be placed before the Authority for approval every year or on any prior date directed by the Authority.