Audit rights and reporting: Comptroller and Auditor General audits grant accounts and audit report must be laid before Parliament. The Board must maintain proper accounts of the grant under section 125 and prepare an annual statement in a form prescribed by the Central Government in ... Summary
Audit rights and reporting: Comptroller and Auditor General audits grant accounts and audit report must be laid before Parliament.
The Board must maintain proper accounts of the grant under section 125 and prepare an annual statement in a form prescribed by the Central Government in consultation with the Comptroller and Auditor General. The Comptroller and Auditor General shall audit those accounts at intervals he specifies and may appoint others; they have the same rights and privileges as for government accounts. Certified accounts and the audit report must be forwarded annually to the Central Government for laying before each House of Parliament.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.