Section 14(3) in Assam Non-Government Educational Institutions (Regulation of Fees) Act, 2018
(3)Every non-government educational institution shall maintain accounts for different kinds of transactions like the fees collected, the grants received, financial assistance received including funds from NRIs, payments of salary of staff, purchase of machinery and equipments, furniture, laboratory articles, sports equipments, library books, stationary and other expenditure incurred towards payments to the agencies companies hired or engaged by the school for different kind of services and these accounts shall be audited by the chartered accountant.
