- The accounts of a Panchayat shall be audited annually and as far as possible, before the close of the succeeding financial year Account for the complete financial year or years, preceding the date of audit, shall ordinarily be taken up for audit.The requirement of the annual audit, provided as above shall be independent and shall not be affected by the supplementary' or any other audit ordered, if any, by the Accountant General of the State of Madhya Pradesh.
