Section 21 in The Punjab Health Systems Corporation Act, 1996
21. Accounts and Audit.
(1)The Corporation shall cause proper accounts and other records in relation thereto to be kept, including the proper system of internal check and prepare an annual statement of accounts, including the income and expenditure account and the balance sheet in such form, as may be specified by regulations. The format of the accounting systems may be drawn up by a reputed external agency.(2)The accounts of the Corporation shall be audited by such firm of auditors, as may be appointed by the Board of Directors.(3)The accounts of the Corporation certified by the officer so appointed or any other official authorised by him in this behalf together with the audit report thereon, shall be forwarded annually to the Government and the Government may issue such instructions to the Corporation in respect thereof, as it may deem fit and the Corporation shall comply with such instructions.(4)The Government, may cause the accounts of the Corporation together with the audit report thereon forwarded to it under sub-section (3) to be laid annually before the State Legislature.
