(1) The annual accounts of the University shall be prepared under the directions of the Board and shall, once at least every year and at intervals of not more than fifteen months, be audited by the Comptroller and Auditor-General of India or by such persons as he may authorise in this behalf.
     (2) A copy of the annual accounts together with the audit report thereon shall be submitted to the Board and the Visitor along with the observations of the Board.
     (3) Any observations made by the Visitor on the annual accounts shall be brought to the notice of the Board and the observations of the Board, if any, shall be submitted to the Visitor.
     (4) A copy of the annual accounts together with the audit report as submitted to the Visitor, shall also be submitted to the Central Government, which shall, as soon as may be, cause the same to be laid before both Houses of Parliament.
     (5) The audited annual accounts after having been laid before both Houses of Parliament shall be published in the Official Gazette.