State Act
Section 47. Account and Audit
This Act was repealed on a date we do not have by the Uttarakhand Private Universities Act, 2023 (Uttarakhand Act 2 of 2024), s.72(1) and Schedule-I item 16; it may still apply to matters that began before then.
47 (1) The annual account and balance sheet of the University shall be prepared under the direction of the Board of Management and all funds accruing to or received by the University from whatever source and all amount disbursed or paid shall be entered in the accounts maintained by the University. (2) The annual account of the University shall be audited by auditors, who are a member of the Institute of Chartered Accountants of India (I.C.A.I.), every year. (3) A copy of the annual accounts and the Balance sheet together with the audit report shall be submitted to the Board of Governors well before 31 December following close of the Financial Year in 31 March each year. (4) The annual accounts, the Balance sheet and the audit report shall be considered by the Board of Governors at its meeting and the Board of Governors shall forward the same to the Visitor and the State Government along with its observations thereon before the 31st December each year.