Accounts and Audit

§23

Summary

23. (1) The Corporation shall maintain proper accounts and prepare an annual statement of accounts including balance-sheet in such form as the State Government may direct. 1](2) The accounts of the Corporation shall be subject to audit annually by the Comptroller and Auditor General of India or any person authorized by him, and any expenditure incurred by him in connection with such audit shall be payable by the Corporation to the Comptroller and Auditor General of India or any person authorized by him. 1[(3) The Comptroller and Auditor General of India or any person authorized by him in connection with the audit of accounts of the Corporation shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor General of India has in connection with the audit of the accounts of an Organization and, in particular, shall have right to demand the production of books, accounts, connected vouchers and other document and papers and to inspect the office of the Corporation. (4) The accounts of the Corporation as certified by the Comptroller and Auditor General of India or any person authorized by him in that behalf together with the audit report thereof shall be forwarded annually to the State Government. ]1 (5) The State Government shall- (a) cause the accounts of the Corporation, together with the audit report thereon, received by it under sub-section (4) to be laid annually before each Houses of the State Legislature ; and (b) cause the accounts of the Corporation to be published in the prescribed manner and make available copies thereof for sale at a reasonable price.

23. (1) The Corporation shall maintain proper accounts and prepare an annual statement of accounts including balance-sheet in such form as the State Government may direct. 1](2) The accounts of the Corporation shall be subject to audit annually by the Comptroller and Auditor General of India or any person authorized by him, and any expenditure incurred by him in connection with such audit shall be payable by the Corporation to the Comptroller and Auditor General of India or any person authorized by him. 1[(3) The Comptroller and Auditor General of India or any person authorized by him in connection with the audit of accounts of the Corporation shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor General of India has in connection with the audit of the accounts of an Organization and, in particular, shall have right to demand the production of books, accounts, connected vouchers and other document and papers and to inspect the office of the Corporation. (4) The accounts of the Corporation as certified by the Comptroller and Auditor General of India or any person authorized by him in that behalf together with the audit report thereof shall be forwarded annually to the State Government. ]1 (5) The State Government shall- (a) cause the accounts of the Corporation, together with the audit report thereon, received by it under sub-section (4) to be laid annually before each Houses of the State Legislature ; and (b) cause the accounts of the Corporation to be published in the prescribed manner and make available copies thereof for sale at a reasonable price.

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