Section 162. Report by Audit agency.

(1) The audit agency shall :–– (a) report to the Corporation any material impropriety or irregularity which it may at any time observe in the expenditure or in the recovery of moneys due to the Corporation or in the Corporation accounts ; (b) furnish to the Corporation such information as it may from time to time require concerning the progress of the audit. (2) On receipt of the report under sub-section (1) the Corporation shall take such action thereon as may be deemed necessary. (3) As soon as may be after the commencement of each year, the audit agency shall deliver to the Corporation a report of the entire Corporation accounts for the previous year. (4) The Commissioner shall cause the said report to be printed and shall forward as soon as may be a printed copy thereof 1[to each member of the Corporation and the Government which shall, as soon as may be, lay the said report in the Legislative Assembly of the Union territory of Jammu and Kashmir].