Amendment status not verified — confirm the current text below against the official source.
(1) The institute shall cause proper accounts and other records in relation thereto be kept, including the proper System of internal check and prepare an annual statement of accounts including the income and expenditure account and the balance sheet in such manner as may be prescribed by regulations. (2) The accounts of the Institute shall be audited by such persons as may be appointed by the Government and any expenditure incurred in connection with such audit shall be payable by the Institute to the Government. (3) The persons so appointed and any other person so authorized by him in connection with such audit of accounts of the Institute shall have the same rights and privileges and Accounts and Audit. 14 [Act No.9 OF 2024] Annual Report. Authentication of the orders and instruments of the Institute. Question of Invalidation on various grounds. authority in connection with such audit as the comptroller and Auditor-General of India has in connection with the audit of Government accounts and in particular shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Institute. (4) The accounts of the Institute certified by the person so appointed or any other person authorized in this behalf together with the audit report thereon shall be forwarded annually to the Government and the Government may issue such instructions to the Institute in respect thereof as they deem fit, and the Institute shall comply with such instructions. (5) Government may cause the accounts of the Institute together with audit report thereon forwarded to them to be said annually before the Legislative Assembly of the State.