(i)The annual accounts and balance-sheet of the University shall be prepared under the directions of the Executive Council at least once every year and at intervals of not more than fifteen months, be audited by the Comptroller and Auditor-General of India or by such persons as he/she may authorize in his/her behalf;(ii)A copy of the annual accounts together with the audit report thereon shall be submitted to the General Council and the Chancellor through the Government, along with observations if any of the Executive Council;(iii)Any observation made by the Chancellor on the annual accounts shall be brought to the notice of the General Council and the observations of the General Council, if any, shall, after being considered by the Executive Council, be submitted to the Chancellor;(iv)A copy of the annual accounts together with the audit report, as submitted to the Chancellor, shall also be submitted to the Government.
