Section 42. Accounts and Audit.

(1) A committee shall keep accounts in such form and in such manner as it may, by by-laws made in this behalf, determine. (2) The accounts of the committee shall be audited by Chief Auditor, Local Funds Accounts or by any other auditor appointed by the committee, with the previous approval of the State Government. (3) The State Government may, if it thinks necessary, appoint a special auditor to audit the accounts of a committee. (4) The auditor or the special auditor, as the case may be, shall submit his report to the committee and shall forward a copy thereof to the Metropolitan Commissioner and the State Government. (5) The cost of the audit under sub-section (2) or (3), if any, shall be borne by the committee.