Audit obligations: authority must maintain prescribed accounts, undergo CAG audit, and forward certified accounts for parliamentary laying. The Authority must maintain proper accounts and prepare an annual statement of accounts in the form specified by the Central Government in consultation with the Comptroller and Auditor General. The accounts are subject to annual audit by the Internal Audit Party and the Comptroller and Auditor General (or his appointee), with audit costs payable by the Authority. The Comptroller and Auditor General has full rights to demand books, vouchers and inspect offices. Certified accounts and the audit report must be forwarded annually to the Central Government for laying before Parliament.
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Audit obligations: authority must maintain prescribed accounts, undergo CAG audit, and forward certified accounts for parliamentary laying.
The Authority must maintain proper accounts and prepare an annual statement of accounts in the form specified by the Central Government in consultation with the Comptroller and Auditor General. The accounts are subject to annual audit by the Internal Audit Party and the Comptroller and Auditor General (or his appointee), with audit costs payable by the Authority. The Comptroller and Auditor General has full rights to demand books, vouchers and inspect offices. Certified accounts and the audit report must be forwarded annually to the Central Government for laying before Parliament.
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