({1) The accounts of the Authority shall be subject to audit annually by the Accountant General of the State and any expenditure incurred by him in respect of such audit shall be payable by the Authority to the Accountant General. The Accountant General or any person appointed by him in connection with the audit of accounts of the Authority shall have the same right, privilege and authority as the Accountant General has in connection with the audit of the accounts of the State Government and in particular, shall have the nght to demand the production of books, accounts, connected vouchers and other documents and papers.
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(2) A copy of the audit report concerned shall be submitted to the State Government, the Authority and any other person concerned or authority specified by the State Government.