Section 16(i) in Code of Regulations for Approved Nursery and Primary Schools
(i)The approved Nursery and Primary schools will, continue to enjoy the financial autonomy hitherto enjoyed by them. They will ensure that the fees that they are levying are reasonable and are commensurate with the expenditure involved and amenities provided. After the financial year is over, the accounts are to be audited by a Chartered Accountant and a certificate signed by the auditor to the effect that the accounts have been audited, should be sent to the Director or an Officer authorised by him within a month after the completion of audit.
