The accounts of the University shall be maintained in such form and in such manner as may be prescribed.
No expenditure shall be made from the University Fund unless a bill for payment has in the prescribed manner, been audited by the Resident Auditor in conformity with the Statutes, Regulations and Rules.
The accounts of the University shall be audited in the prescribed manner once a year by an auditor appointed by the Government in this behalf
The annual statement of accounts of the University signed by the Treasurer and the Resident Auditor shall be submitted to the Government within six months of the closing of the financial year.
The accounts of the University together with audit objections, if any, and the observations of the Auditor appointed by the Government and the Treasurer shall, in the prescribed manner, be presented to the Syndicate with the remarks of the Finance and Planning Committee.