(1) The Board shall maintain proper account and other relevant records and prepare the annual statement of account including the balance-sheet in such form and according to such procedure as may be prescribed by the State Government.
(2) The accounts of the Board shall be audited once in every year and if so requested by the State Government concurrently with the compilation of such accounts by an auditor appointed by the State Government in consultation with the Comptroller and Auditor General of India (hereinafter referred to as the Auditor) and any amount payable to such Auditor by the Board in respect of such audit shall be chargeable to the General Fund of the Board.
(3)The Auditor shall have the same rights, privileges and authority in connection with the audit of the accounts of the Board as the Comptroller and Auditor General of India has with regard to the audit of the State Government accounts in particular, shall have the right to demand production of books of accounts, related vouchers and other relevant records of the Board necessary for the purpose of audit.
60 Preparation and submission of audit report.
90.(1) Within fourteen days after the audit of the accounts of the Board have been completed, the Auditor shall prepare and forward copies of the audit report to the State Government and to the Chairperson of the Board.
(2) After the audit report is received by the State Government, it shall at the earliest, cause the report to be laid for not less than thirty days before the Legislative Assembly of the State.
The Board to remedy defects and irregularities pointed out in audit report.
91. The Board shall address any defects or irregularities pointed out in the audit report and shall take needful remedial action and send a report of the action taken to the State Government.
State Government to decide on differences between Board and auditors.
92. If there is a difference of opinion between the Board and the Auditor on any point included in the audit report, and the Board express its inability to accept and implement any recommendation of the Auditor, the matter shall be referred to the State Government which shall issue directions thereon and the Board shall be bound thereafter to act upon such directions.
CHAPTER IX SUPERVISION AND CONTROL OF THE GOVERNMENT Annual administrative report.