Amendment status not verified — confirm the current text below against the official source.
(1) The annual accounts of the University shall be prepared and audited under the directions of the Executive Council and the same shall be submitted to the State Government after taking approval from the Board. (2) The Executive Council shall also prepare, before such date as may be prescribed by the Statutes, the financial estimates for the ensuing year. (3) The annual accounts and the financial estimates shall be submitted to the Boru;d for its approval at its annual meeting and it may pass. resolution with reference thereto and communicate the same to the Executive Council which will take such action thereon as necessary; and finally adopt the accounts and financial estimates. The Executive Council shall report to the Board at its next meeting of the action taken by it on the said resolution, or if no action is taken, the reasons for taking no action. (4) The accounts of the University shall be audited every year and in any case within three months of the close of the financial year by the auditors ap1>0inted by the Finance Committee from amongst the firms of Chartered Accounts, whose partners have no interest in any of the authorities or affairs of the University. The Registrar and the Finance and A<;counts Officer shall be jointly responsible for getting the accounts of the University so audited within the stipulated time limit, failing which the Vice-Chancellor shall lake such steps as he may deem fit including disciplinary actions against such officers. (5) The audited accounts shall be published by the University and a copy thereof together with the copy of the auditor's report shall be submitted to the Board for approval which shall consider and pass sucluesolution thereon as it thinks fit The audited accounts approved by the Board sh.all be submitted to the State Government. [PART IV PART JV] GUJARAT GOVERNMENT GAZETTE, EX. 01-04-2017 (6) The State Government may conduct the test audit or full audit of the accounts of the University at regular intervals by the audlwrs appointed by the State Govemmenl.