Section 45 in Krishnaguru Adhyatmik Visvavidyalaya Act, 2017
45. Accounts and Audit.
(1)The Statement of Accounts of every completed financial year shall be placed for consideration of the court together with the Audit Report in the next year. For this purpose the accounts shall be audited by a firm of Charted Accountants subject to overall Audit Scrutiny by the Accountant General, Assam.(2)Such Annual Statement of Accounts shall, together with copies of the audit report, be submitted, through the Executive Council, to the court and to the State Government and thereupon, the State Government may publish the same in the Official Gazette.(3)The Finance Committee of the University shall conduct half-yearly internal audit and the report of such audit shall be submitted to the State Government regularly.(4)Notwithstanding anything contained hereunder, the State Government shall have power when deemed necessary to order an audit of the accounts of the University.(5)The annual budget estimates, shall after these are finalised by the Executive Council be circulated to the Chancellor, State Government and all members of the court at least fifteen days before they are submitted to the State Government.(6)The University shall obtain prior approval from the Finance Statutes (Budget) Department of the State Government for opening any account in a Nationalised Bank or any other Bank. The operation of such Account by the University shall be as per approvals accorded from time-to-time by the said Department.
