Section 85. Annual accounts and audit.

(1) The accounts of the University shall be audited at least once every year and in any case within six months of the close of the financial year by the auditors appointed by the Management Council from amongst the firms of chartered accountants whose partners have no interest in any of the authorities or affairs of the University. (2) The audited accounts shall be published by the University and a copy thereof, together with the copy of the auditor’s report, shall be submitted to the Chancellor, Government and, on receipt of such audited accounts, the Senate shall consider and pass such resolution thereon as it thinks fit. 1[(2A) The Government shall cause the audited annual accounts of the University, received by it, to be laid before each House of the State Legislature.] (3) The Government may conduct the test audit or full audit of the accounts of the University at regular intervals by the auditors appointed by the Government.