Section 27 in International Institute of Information Technology (IIIT) University Act, 2013
27. Accounts and audit.
(1)The Institute shall maintain proper accounts including the balance sheet, other relevant records and prepare an annual statement of accounts.(2)The accounts of the Institute shall be audited by the Examiner of the Local Fund Audit of the State or such person or persons as he may authorize in this behalf.(3)The Examiner of the Local Fund Audit and any person appointed by him in connection with the audit of the accounts of the Institute shall have the same rights, privileges and authority in connection with such audit as the Examiner of the Local Fund Audit has in connection with the audit of the Government accounts, and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the Institute.(4)The accounts of the Institute as certified by the Examiner of the Local Fund Audit or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the State Government and Government shall cause the same to be laid before the Legislative Assembly.(5)The Institute may appoint a statutory auditor for audit of its accounts, without derogating provisions mentioned above under sub-sections (2), (3) and (4) of this Section.
