16. The audit of accounts

The audit of accounts and preparation of balance sheet for each financial year with reference to Section 16 of the Act and the person or persons appointed to do such audit.

1. A chartered accountant shall be appointed at the AGM to audit the annual accounts. He shall sign the accounts for having audited the accounts. He shall also prepare a report indicating, among other things, statutory compliances required and tax, if any, payable.
2. The accounting year of the Association will be according to the financial year i.e. from 1st April of every year to the 31st March of the succeeding year.
3. The accounts of the association and balance sheet will be placed at the time of Annual General Body meeting of the Association and every member can inspect the same on prior intimation to the office and the member will be permitted to do so only at the premises of the Association Office. A copy of the Balance sheet will be exhibited in the Association office Notice Board.