Amendment status not verified — confirm the current text below against the official source.
Annual audit of accounts - (1) The accounts of every private educational institution receiving aid out of State Funds shall be audited at the end of every academic year by such authority, officer or person as may be prescribed and different authorities, officers or persons may be prescribed for different classes of private educational institutions. (2) (a) The prescribed authority, officer or person shall send a copy of the report on the audit of the accounts, under sub-section (1) to the competent authority which shall forward the report to the educational agency. (b) The educational agency shall, within such time as may be prescribed, submit that report together with the comments of that agency to the competent authority.