Section 31 in Gujarat University of Transplantation Sciences Act, 2015
31. Accounts, audit and annual report.
(1)The University shall maintain proper accounts and other relevant records and prepare an annual statement of accounts, including the income and expenditure statement and the balance sheet, in such form and in such manner as may be prescribed by the regulations.(2)The University shall adopt a proper system of internal checks and balances and controls in the discharge of its financial, accounting and auditing functions as may be prescribed by the regulations.(3)The accounts of the University shall be audited every year by an auditor, who shall be a Chartered Accountant as defined by clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949, (38 of 1949) or a firm of Chartered Accountants, to be appointed by the Board of Governors.(4)The accounts of the University certified by the Chartered Accountant or a firm of Chartered Accountants so appointed together with the audit report thereon shall be placed before the Board of Governors and the Board of Governors may issue such instructions and directions to the Vice-Chancellor in respect thereof as it deems fit and the Vice-Chancellor shall comply with such instructions and directions.(5)The accounts of the University shall be audited by an internal auditor who shall be a Chartered Accountant or a firm of Chartered Accountants appointed by the Board of Governors, to ensure concurrent audit of all books of accounts and such periodic internal audit reports shall be placed before the Board of Governors for review.(6)The University shall prepare in each financial year an annual report containing such particulars as the Board of Governors may specify and submit the same to the Board of Governors on or before such date as may be prescribed. The Board of Governors shall consider such report and may pass resolutions thereon.(7)The copy of the annual report along with the resolution of the Board of Governors thereon shall be submitted to the State Government.
