(1) The Authority shall cause to be maintained proper books of accounts and such other books as the rules may require, and shall prepare in accordance with the rules an annual statement of accounts.
(2) The Authority shall cause its accounts to be audited annually by such person and by such date in the next succeeding year as the State Government may direct. The person so directed shall have the right to demand the production of books, accounts and connected vouchers, documents and papers, and to inspect any of the offices of the Authority including those of the Boards.
(3) As soon as the accounts of the Authority have been audited, the Authority shall send a copy thereof with a copy of the report of the auditor thereon to the State Government; and the Authority shall comply with such directions as the State Government may, after perusal of the report of the auditor, think fit to issue.
(4) The accounts together with the report of the auditor thereon shall be laid by the State Government before each House of the State Legislature as far as possible before the expiry of the year next succeeding the year to which they relate.