Section 27 in Punjab Apartment and Property Regulation Rules, 1995
27. Audit.
(1)Every promoter and estate agent shall get his accounts audited after the close of every financial year by a Chartered Accountant and shall furnish a statement of accounts duly certified and signed by such Chartered Accountant alongwith the auditor's report to the competent authority within a period of six months of the close of the financial year.(2)While auditing the account, the Chartered Accountant shall also verify that amounts collected by the promoter for a particular purpose have not been utilised for any other purpose as provided in section 9 and a certificate to that effect shall be recorded by the Chartered Accountant and a copy of the certificate so recorded, shall be sent by the promoter to the competent authority. [Sections 29 and 45(2)(s).]
