Amendment status not verified — confirm the current text below against the official source.
Accounts and Audit.—(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance ---12--- sheets in such form as may be prescribed. (2) The accounts of the Board shall be audited by such persons as Government may appoint in this behalf. (3) The Auditors appointed by the Khadi and Village Industries Commission shall have the right to audit and inspect the accounts of the Board pertaining to the funds advanced by the Khadi and Village Industries Commission. (4) The person appointed under sub-section (2) shall, in connection with such audit, have rights, privileges and authority, as may be prescribed and in particular, such auditor shall have the right to demand the production of books, accounts, connected vouchers and other documents and to inspect any of the offices of the Board. (5) The accounts of the Board as certified by such auditor together with the audit report thereon shall be forwarded annually to Government and the Khadi and Village Industries Commission before such date as Government 1[“or the Khadi and Village Industries Commission”] may specify in this behalf. (6) The Board shall comply with such directions as Government 1[“or the Khadi and Village Industries Commission”] may, after perusal of the report of the auditor think fit to issue. CHAPTER VI Miscellaneous