(1) The Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts including the balance sheet in such form as may be prescribed.
(2) The accounts of the Authority shall be subject to audit annually by such person as may be appointed by the Government and any expenditure incurred by that person in connection with such audit shall be payable by the Authority to the Government.
(3) The person so appointed and any other person authorised by him in connection with the audit of accounts Budget of the Authority.
Accounts and audit.
32 [Act No. 1 of 1975] of the Authority shall have the same right, privilege and authority in connection with such audit as the Accountant General has, in connection with the audit of the Government accounts.
(4) The accounts of the Authority as certified by the person so appointed or any other person authorised by him in this behalf together with the audit report thereon shall be forwarded annually to the Government and the Government shall cause a copy of the same to be laid before both Houses of the State Legislature.
25. The Authority shall prepare for every year a report of its activities during that year and submit the report to the Government in such form and on or before such date as may be prescribed and the Government shall cause a copy of the report to be laid before both Houses of the State Legislature.