(1)The annual accounts and balance sheet of the University shall be prepared by the Comptroller under the direction of the Vice-Chancellor and all moneys accruing to or received by the University from whatever sources and all amounts disbursed or paid shall be entered in the accounts.(2)The annual accounts and balance sheet shall be submitted by the Board to the State Government which shall cause an audit to be carried out by such person as it may direct.(3)The accounts when audited shall be printed and copies thereof shall, together with the copies of the Audit Report, be submitted by the Vice-Chancellor to the Board, which shall forward them to the State Government with such comments as may be deemed necessary and audit report with comments of the Board shall be placed before the State Legislature.Chapter - VIII Supplementary Provisions
