Amendment status not verified — confirm the current text below against the official source.
(1) The annual account of the University shall be prepared by the Finance Officer under the direction of the [Syndicate]. (2) The Government shall appoint auditors to conduct the audit of the accounts of the University and the institutions under the management of the University at regular intervals. (3) The Auditor shall maintain a continuous audit of the accounts of the University and may, after giving due intimation, conduct local audit of any institution under the management of the University. (4) The University shall bear the cost of the audit as fixed by the Government. (5) After completing the audit for a year or for any short period or for any transaction or series of transactions, the Auditor shall send a report to the University and a duplicate copy thereof to the Government. (6) The [Syndicate] shall publish the annual accounts together with the annual report thereon and copies of such accounts and audit report shall be placed before the Board of Governors and after receiving the approval of the Board of Governors, it shall be submitted to the Government on or before the 1st day of March of the succeeding year. (7) Immediately on receipt of the annual report under sub-section (6), the Government shall, cause the same to be laid on the Table of the Legislative Assembly, if it is in session, and if it is not in session, it shall be caused to be laid in the next session immediately following the receipt of such accounts. (8) The Auditors shall, in the report under sub-section (5) satisfy all cases of irregular, illegal or improper expenditure or of failure to recover moneys or other property due to the University or of a loss or waste of money or other property thereof caused by neglect or misconduct of the officers and authorities of the University. (9) The Auditors shall also report on any other matter related to the accounts of the University as may be required by the Government. (10) The University shall forthwith remedy any defect or irregularity pointed out by the auditors and report the action taken to the Government. Substituted as per Act 17 of 2018 w.e.f. 08/12/2017. Prior to the substitution it reads as "Executive Committee"