Section 31 — Annual Accounts.

31. Annual Accounts. — (1) The annual accounts and balance sheet of the University shall be 

prepared under the directions of the Executive Council and shall, once at least every year and 

at intervals of not more than fifteen months, be audited by an experienced and qualified firm of 

Chartered Accountant eligible for conducting audit as per the provisions of the Chartered 

Accountant Act, 1949 (Central Act XXXVIII of 1949). 

   (2) A copy of the annual accounts, together with the audit report thereon, shall be submitted to 

the Governing Council and the Chancellor along with the observations of the Executive Council 

for their approval.