Securities and Exchange Board of India Act, 1992
15.Accounts and
audit.-
(1) The Board shall
maintain proper accounts and other relevant records and prepare and annual
statement of accounts in such form as may be prescribed by the Central
Government in consultation with the Comptroller and Auditor-General of India.
(2) The accounts of
the Board shall be audited by the Comptroller and Auditor-General of India at
such intervals as may be specified by him and any expenditure incurred in
connection with such audit shall be payable by the Board to the Comptroller and
Auditor-General of India.
(3) The Comptroller
and Auditor-General of India and any other person appointed by him in
connection with the audit of the accounts of the Board shall have the same
rights and privileges and authority in connection with such audit as the
Comptroller and Auditor-General generally has in connection with the audit of
the Government accounts and, in particular, shall have the right to demand the
production of books, accounts, connected vouchers and other documents and
papers and to inspect any of the offices of the Board.
(4) The accounts of
the Board as certified by the Comptroller and Auditor-General of India or any
other person appointed by him in this behalf together with the audit report
thereon shall be forwarded annually to the Central Government and that
Government shall cause the same to be laid before each House of Parliament.