(1) The Board shall within six months from the date of the closing of each financial year or within any extended time-limit accorded by the Government, submit to the Government its annual report giving an account of its activities during the year in the given Form-A appended to these rules.
(2) The accounts of the Board shall be audited by the Auditor General, Punjab who shall furnish a statement, where necessary, in regard to any material impropriety or irregularity which he may observe in the expenditure or in the recovery of money due to, or in the accounts of the Board to the Board and the Government.
635 PUNJAB GOVT. GAZ. (EXTRA), NOVEMBER 25, 2020 (AGHN 4, 1942 SAKA)
(3) The Board shall forthwith remove any defect or irregularity which is pointed out by the Auditor General, Punjab and shall report to the Government the action taken by the Board thereon within ninety days from the date of the receipt of the report from Auditor General, Punjab.
(4) A copy of the annual report approved by the Board shall be circulated to all the members of the Board for their information.