Section 5 in National Medical Commission (Annual Statement of Accounts, Submission of Annual Report and Other Reports and Statements) Rules, 2019
5. Annual statement of accounts.
(1)At the end of a period of twelve months ending with the 31st March of every year, the Commission shall prepare the following annual financial statements, along with necessary schedules, notes on accounts and significant accounting policies in accordance with the notes and instructions for compilation of financial statements prescribed by the Central Government in the Ministry of Finance, Controller-General of Accounts, as modified and annexed to these rules in Form A:(i)balance sheet;(ii)income and expenditure account;(iii)receipt and payment account.(2)The annual financial statements referred to in sub-rule (1), shall be approved and adopted by the Commission and, for the purposes of authentication, be signed by the Chairperson and one Member of the Commission.(3)The approved annual financial statements of the Commission shall be forwarded by the Commission to the Comptroller and Auditor-General of India or any other person appointed by him on his behalf within three months after the expiry of the year for the purposes of audit.(4)The annual accounts of the Commission, as certified by the Comptroller and Auditor-General of India or any other person appointed by him in his behalf, together with the audit report thereon after adoption by the Commission shall be forwarded to the Central Government for laying before both the Houses of Parliament.
