Amendment status not verified — confirm the current text below against the official source.
Liability of Sarpanch, President, Chairperson for loss, waste or misapplication of property. Accounts and Audit. Act 9 of 1989. [Act No.5 of 2018] 253 (2) For the purpose of proper maintenance of accounts and matters connected therewith or incidental thereto, it shall be competent for the Director of State Audit to issue such directions as he deems necessary to the Chief Executive Officer, who shall ensure that the said directions are carried out by the said local bodies. (3) Notwithstanding anything contained in sub-section (1), every local body shall engage Chartered Accountants from out of the panels of Chartered Accountants made by the Commissioner or by the State Audit Department to get audited of the accounts maintained under sub-section (1) and for speedy finalization of their accounts: Provided that a Sarpanch or as the case may be Panchayat Secretary of a Gram Panchayat shall have to close the accounts of the Gram Panchayat and get them audited before the end of third quarter of the succeeding financial year.