Section 32 of The Regional Centre for Biotechnology Act, 2016. in hindi
- (1)The annual accounts and the balance sheet of the Regional Centre 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.
- (2)A copy of the accounts together with the audit report shall be submitted to the Central Government along with the observations, if any, of the Board.
- (3)A copy of the annual report and annual accounts together with the audit report, shall be submitted to the Central Government which shall, as soon as may be, cause the same to be laid before each House of Parliament.
- (4)The audited annual accounts, after having been laid before both Houses of Parliament, shall be published in the Official Gazette.
Summary
- The Board must direct the preparation of the annual accounts and the balance sheet of the Regional Centre.
- These accounts must be audited at least once every year by the Comptroller and Auditor-General of India.
- The gap between two audits cannot be more than fifteen months.
- The Regional Centre must submit the accounts and the audit report to the Central Government along with any comments from the Board.
- The Central Government must present both the annual report and the audited accounts with the audit report before each House of Parliament as soon as possible.
- After being presented to Parliament, the audited annual accounts must be published in the Official Gazette (the government's public journal).
Practical examples
FAQ
1. Who directs the preparation of the annual accounts and balance sheet?
They are prepared under the directions of the Board of Governors of the Regional Centre.
2. Who conducts the official audit of the Regional Centre's accounts?
The Comptroller and Auditor-General of India conducts the audit.
3. What is the maximum time allowed between audits?
The audits must be done at least once a year, and the gap between audits cannot exceed fifteen months.
4. Where are the audited accounts published after being shown to Parliament?
They must be published in the Official Gazette of the government.
Test yourself
Q1.Under Section 32 of The Regional Centre for Biotechnology Act, 2016., what is the maximum allowed time gap between audits?
Q2.Under Section 32 of The Regional Centre for Biotechnology Act, 2016., who is the statutory auditor of the Regional Centre's accounts?
Q3.Under Section 32 of The Regional Centre for Biotechnology Act, 2016., who directs the preparation of the annual accounts and balance sheet?
Q4.Under Section 32 of The Regional Centre for Biotechnology Act, 2016., when are the audited accounts published in the Official Gazette?