Annual Report

(1) The Annual Report of the University shall be prepared under the direction of the Board of Management and shall be submitted to the Board of Governors on such date as may be prescribed. The Board of Governors in its annual meeting shall consider and approve the Annual Report. (2) The annual accounts and balance sheet of the University shall be prepared under the direction of the Board of Management and at least once every year and at intervals of not more than fifteen months, be audited by an experienced and qualified firm of Chartered Accountants of repute.