Amendment status not verified — confirm the current text below against the official source.
(1) The annual accounts of the Universily shall be prepared by the and Audil. Cornprrollci o l Finance under the direction 01 the Executive Council and all moneys accruing lo, or received by the University from whatever sources and all amounts disburshed and paid by Ihe Universily shall be enlered in the Books of Accounts. 12) The accounts of Ihe University shall, at least once in every year and at an interval of not more than lifteen months, be audited in accordance with the Orissa Ad provisions of the Orissa Local Fund Audit Act, 1948. 5 of 1949. (3)All reports on audit made under sub-section (2) shall as soon as Ihey are received from the Examiner 01 Local Accounts, be laid before the Stale Legislature for a total period of fourleen days which may be comprised in one or more sessions. (4) The Government shail have the power lo conduct special audit, if required,'in respect of utilisation ol funds and the University shall comply wilh the ' directions issued by the Government on'such audit. (5) The University shall forthwilh rectify any defecl or irregularity poinled out by the auditors and report the action taken to Ihe Government. 193 CHAPTER VI MISCELLANEOUS, Disputes as lo consli- tution of the University Aulhorities and Bodies. Conslilution or Committees. Filling of casual vacancies, Proceeding of lhe , . Universily Authoril~es , and Bodies not invali- dated by j f vacancies. i Disqualifica- tion. Supersession of . authorities, and taking over management.