Amendment status not verified — confirm the current text below against the official source.
( I ) The annual acrxrunts of the . Universily shall be prepared by thc md Audit. Binance Oacer under the direction of the Board and all moneys accruing to, or mceived by, the University from-whatever sources and all amounts disbu~cd, and paid by the University shall be entered in the accounts. (2) The accounts of the University shall, atleast unw in every gear and at interval of not more than fifteen months, be audited in accordance with the provisions of the Orissa Lacal Fund Audit Act, 1948 and the provisions of that Orissa Act 3 Act shall apply to such audit. of 1948. (3) All reports on audit made under sub-section (2) skall, as soon as may be after they are received from the Examiner of Local Accounts, be laid before the State Legistature for a total period of rourteen .days which may be comprised in one or moE sessions. (4) The Government shdl hove powers to conduct special audit if rcqyired in respect of utilisation of funds and the University shall compIy with the . . . directions issued by the Government on such audit. . . (5) The auditors shall also report on any other mattcr relating to the accounts of the Udversity as may be required by the Government. (6) The University sha11 forthwith rectify or remedy anv dcfect or irregularity pointed out by the auditors snd report the action taken to the Go~ernment. h n m l