(1) The Board shall prepare its annual report and the annual statement of accounts for each financial year giving detailed account of its activities, achievements and such other details as it may consider appropriate and necessary in Form-II and submit a copy of the same to the Government within the period specified under sub-rule (3).
(2) The Board shall lay down the procedure for maintaining the accounts. The accounts of the Board shall be audited annually by the Comptroller and Auditor General of India. Expenditure towards this shall be payable by the Board.
Board has the power to conduct audit at anytime.
(3) The Board shall submit the annual report together with the audited statement of accounts for each financial year to the Government by September of each year so as to enable the Government to lay the annual report and auditor's report before the Legislative Assembly.
173Dec. 6, 2017] tamil nadu government gazette
(4) The accounts of the Board shall be audited by an auditor duly qualified to act as an auditor of companies under section 141 of the Companies Act 2013.
(5) The said auditor shall be appointed by the State Government on the advice of the Comptroller and Auditor General of India.
(6) Every auditor appointed to audit the accounts of the Board under this Act shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect any of the offices of the Board.
(7) Every such auditor shall send a copy of his report together with an audit copy of the accounts to the Comptroller and Auditor General of India for comments.
(8) After the receipt of the comments from the Comptroller and Auditor General of India, it is to be placed before the Annual General Meeting of the Board. The annual report together with the audited statement of accounts for each financial year shall be furnished to the Government by September of each year so as to enable the Government to lay the annual report and auditor's report before the Legislative Assembly.