Section 38(1) in The Indian Institutes of Information Technology Act, 2014
(1)There shall be attached to every statement of accounts laid before the Board of each Institute, a report by its Director, with respect to -(a)the state of affairs of such Institute;(b)the amounts, if any, which it proposes to carry to any surplus reserves in its balance sheet;(c)the extent to which understatement or overstatement of any surplus of income over expenditure or any shortfall of expenditure over income has been indicated in the auditor's report and the reasons for such understatement or overstatement;(d)the productivity of research projects undertaken by the Institute measured in accordance with such norms as may be specified by any statutory regulatory authority;(e)appointments of the officers and teachers of the Institute;(f)benchmark and internal standards set by the Institute, including the nature of innovations in teaching, research and application of knowledge.
