Amendment status not verified — confirm the current text below against the official source.
(1) The Board shall maintain accounts and other relevant records and prepare an annual statement of accounts including the profit and loss account and the balance sheets in such form as may be prescribed. (2) The accounts of the Board shall be audited by such person as the Government may appoint in this behalf. (3) The person appointed under sub-section (2) shall, in connection with such audit have such rights, privileges and authority, as may be prescribed and in particular, such person shall have the right to demand the production of books; accounts, connected vouchers and other documents and to inspect any of the offices of the Board. (4) The account of the Board, as certified by the person appointed under sub-section (2), together with the audit report thereon shall be forwarded annually to the Government and the Khadi and Village Industries Commission before such date as the Government may specify in this behalf. (5) The Board shall comply with such directions as the Government may, after perusal of the report of the person appointed under sub-section (2), think fit to give.