Section 53 in SRI JAGADHGURU MURUGARAJENDRA UNIVERSITY ACT, 2020
53. Account and audit.- (1) The annual accounts and balance sheet of
the University shall be prepared under the direction of the Board of Managementand all funds accruing to or received by the University from all source and all amountdisbursed or paid shall be entered in the account maintained by the University.(2)The annual accounts of the University shall be audited by an auditor,who is a member of the Institute of Charted Accountants of India, every year.(3)A copy of the annual accounts and the balance sheet together withthe audit report shall be submitted to the Board of Governors before 30thNovember following close of the financial year in 31st March of each year.(4)The annual accounts, the balance sheet and the audit report shall beconsidered by the Board of Governors at its meeting and the Board of Governors,shall forward the same to the visitor and the Government along with its observationthereon or before 31st December of each year.(5)In the event of any objections or suggestions in the Report of the Auditors,the State Government may issue directions to the University, to rectify the mistakesand such directions shall be binding on the University.
