Accounts and Audit

(1) The annual accounts and balance-sheet of the University shall be prepared under the directions of the Executive Council and shall, at least once in every year and at intervals of not more than fifteen months, be audited by the Director, Local Fund Audit, Uttarakhand or such person or persons as the State Government may authorize in this behalf. (2) A copy of the annual accounts and the balance-sheet together with the audit report thereon shall be submitted to the State Government annually before 30th September along with the observations of the Executive Council, if any. (3) The observations of the State Government on the annual accounts shall be brought to the notice of the Executive Council. The views of the Executive Council on such observations, if any, shall be submitted to the State Government.