(1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including a balance sheet in such forms as may be prescribed.
(2) The accounts of the Board shall be audited annually by such qualified person as the Government may appoint in this behalf.
(3) The auditor shall at all reasonable times have access to the books of accounts and other documents of the Board, and may, for the purposes of the audit, call for such explanation and information as he may require or examine any member or officer of the Board.
(4) The accounts of the Board certified by the auditor, together with the audited report thereon shall be forwarded annually to the Government before such date as the Government may specify in this behalf.
(5) The Board shall comply with such directions as the Government may, after perusal of the report of the auditor, think fit to issue.
(6) The cost of audit, as determined by the Government shall be paid out of the funds of the Board.