Section 119(1) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(1)The Audit Authority, as a result of its audit, shall prepare an audit report on the annual accounts of the Panchayat Samiti and the Zila Parishad, which shall be appended to their annual accounts The Audit Report shall inter alia bring out the true financial picture as on the last working day of the financial year to which it pertains. This Audit Report, along with annual accounts of the Panchayat Samiti or the Zila Parishad, shall be placed before the Panchayat Samiti or the Zila Parishad, as the case may be, for such action as may be deemed necessary by them.
