(1)The statements of Accounts of every completed financial year shall be placed for consideration of the Court together with the Audited report in the next year. For this purpose, the Accounts shall be audited by a firm of Chartered Accountants subject to overall audit and scrutiny by the Accountant General.(2)Such annual statement of accents shall, together with copies of the audit report thereon, be submitted, throught he 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 quarterly internal audit and the report of such audit shall be submitted to the State Government regularly.(4)Notwithstanding anything contained here in before, the State Government shall have power when deemed necessary to order as audit of the accounts of the University including those of the institutions managed by it by such auditors as it may direct.(5)The Annual Budget Estimate, referred to in Section 16(b) shall after these are finalised by the Executive Council be circulated to the State Government, Chancellor and all members of the Court at least 15 days before they are submitted to the Court.
