Before the managing Director or any member or the secretary to the Board signs a cheque under section 73 he must satisfy himself that the sum for which such cheque is drawn is required for a purpose or work specifically sanctioned by the Board.
75. Keeping of capital account and revenue account-(1) The Board shall keep a capital account and a revenue account.
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(2)The capital account shall show separately all expenditure incurred by the Board on each housing or improvement scheme.
76. Accounts and audit. (1)The Board shall cause to be maintained proper books of accounts and such other books as the rule may require and shall prepare in accordance with the rule and annual statement of account.
(2)The Board shall cause its accounts to be audited annually by such person as the Government may direct , and that person shall have the right to demands the production of books, accounts and connected vouchers, documents and papers and to inspect any of the offices of the Board.
(3) As soon as the accounts of the Board have been audited, the Board shall send a copy thereof together with a copy of the report of the auditor thereon to the Government and shall cause the accounts to be published in the prescribed manner and place copies thereof on sale at a reasonable price.
(4) The Board shall comply with such directions as the Government may after perusal of the report of the auditor think fit of issue.