Section 20(9) in The Mizoram Aided College Employees Rules, 1990
(9)The Annual Internal Auditors shall-(a)examine all the account registers, pass books, stock register and all papers/documents relating to the financial matters of the college ; and(b)conduct physical verification of cash and all items of college property; and(c)submit audit reports in detail to the Governing Body before the end of March, clarifying whether there has been any instance of incomplete or wrong entry into the accounts ; instance of spending any amount of the college funds for the purpose for which it has not been sanctioned or granted ; instances of entries and cash and/or actual balance not being in tally.
