Annual accounts and audit

(1) source and all amount disbursed or paid shall be entered in theaccounts maintained by the University. (2) The annual account of the University shall be audited by auditors, who are a member of the Institute of Chartered Accountants of India (I.C.A.I.), every year. (3) A copy of the annual accounts and the Balance sheet together with the audit report shall be submitted to the Board of Governors well before 31 December following close of the Financial Year in 31 March each year. (4) The annual accounts, the Balance sheet and the audit report shall be considered by the Board of Governors at its meeting and the Board of Governors shall forward the same to the Visitor and the State Government along with its observations thereon before the 31st December each year.