The Road Transport Corporations Act, 1950
33. Accounts and audit.
- The Corporation shall maintain proper
accounts and other records and prepare an annual statement of accounts
including the profit and loss account and the balance sheet in such-form as
may be prescribed by the State Government in consultation with the Comptroller
and Auditor-General of India.
- The accounts of a Corporation shall be audited annually by the Comptroller
and Auditor-General of India or his nominee and any expenditure incurred by him
in connection with such audit shall be payable by the Corporation to the
Comptroller and Auditor-General of
India.
- The Comptroller and Auditor - General of India and any person appointed by him
in connection with the audit of the accounts of a
Corporation shall have the same rights, privileges and authority in connection
with such audit as the Comptroller and Auditor - General of
India 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 Corporation.
- The accounts of the
Corporation as certified by the Comptroller and Auditor - General of India or any person appointed by him in this
behalf together with the audit report thereon shall be forwarded annually to
the State Government; and that Government shall cause the same to be laid
before the Legislature of the State.]
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