Section 21 in Jammu and Kashmir Specified Wakafs and Specified Wakaf Properties (Management and Regulation) Act, 2004
21. Audit of accounts, annual report and review audit.
(1)The accounts of the Wakafs and properties covered under section 3 shall be audited every year by such persons and in such manner as may be prescribed in the bye-laws(2)The Board shall, every year, prepare report on the management and regulation of the Wakafs Trust and properties covered under section 3 which, together with the accounts of the Board and the report of the auditor thereon, shall be published for information of general public in such manner as may be prescribed in the bye-laws.(3)The Board shall, as soon as possible, after the commencement of the Act, appoint a reputed Chartered Accountant to conduct a review audit of the Specified Wakafs Trusts, Specified Wakaf Properties and the Endowment Fund for the last twenty years:Provided that before making such appointment, the Board shall prepare an inventory of moveable and immoveable properties, assets including cash, cheques, shares, savings and current accounts, deposits etc with any person, Bank or financial institution of the Wakafs and properties covered under section 3:Provided further that in order to carry out the purposes of the Act, the Board may direct any Bank, financial institution, Post Office and other person, group or association of persons not to allow any transaction in respect of such properties and assets except with the prior authority or permission of the Board.
