( l) The annual accounts and the balanoe sheets of the University shall be prepared under the directions of the Board of Management and shall, .once at least every year, and at intervals of not more than fiftef"n moths, be audited by the Director of Local funds and Accounts or such person as the State Government may authorize in this behalf .
. (2) A copy of rhe accounts together with the audit repqrt THE ASSAM GAZETTE, RXTRAORDINARY SEPT. 29, 2005 2423 :spall be sub:initt~~ t9 th~ Chqncellpr alof')g witfl th~ observations, if 1tO)', of the Bo:irq of Management;
(3) t\ny observatiqn made by the Chancellor on the annual ~cpunts s~all b~ brpµghl to the notice of tp11 ao~rd Qf Mi:lntlgl:!lWPl imct q1e views of the Boa:i:f of Man&gemem, if any, on su.ch observatio1111 !i~alf pe submitted tn t~e Chancellor;
( 4) A copy of the ~ccbmtt') together with the au~i~ report, as submitted to th~ C~llflc~llor, sha!l also be submitted to the State Goyernmi::rit. which shail ~s soon as may be, l:ause the same to be laid before t~e A~sam Legjs!~tive Ass(}mbl)' at !tr> nell'.r session;
{5) The 1tµ~!te ,d !ln1rnal aq;ounts after h1wipg been laid ·' before the Srate ·Legislative .;.. ss~[llbly sht;!i be t ;" r;- CtV~fT~fi. VJJ CO.'.'lf.;rpoNs OF s~~~VfJ=f: Of E~PLt)\'fES Coi:ditions of 5ervice of employees