Amendment status not verified — confirm the current text below against the official source.
( 1 ) The Authority shall keep accounts in such form and in such manner as may be prescribed. ( 2 ) The accounts of the Authority shall be audited by Chief Auditor, Local Fund or by any other auditor appointed by the Authority with the approval of the State Government. ( 3 ) The State Government may, if it thinks necessary, appoint a special auditor to audit the accounts of the Authority. ( 4 ) The auditor or the special auditor, as the case may be, shall submit his report to the Authority and shall forward a copy thereof to the State Government. ( 5 ) The cost of the audit under sub-section ( 2 ) or ( 3 ), if any, shall be borne by the Authority.