(1) There shall be kept in such manner
and in such form as may be prescribed by regulations, accounts of receipts
and expenditure of the Corporation.
(2) Till regulations as mentioned in sub-section (1) are framed, the provisions of the Jammu and Kashmir Financial Code, presently in force in respect of the municipalities shall be applicable.
(3) The accounts of the Municipal Corporation Fund shall be 1[audited by the Comptroller and Auditor General of India].
(4) For the purpose of examination and audit of the Corporation accounts, the audit agency shall have access to all the Corporation Accounts and to all records and correspondence relating thereto and the Commissioner shall forthwith furnish to the audit agency any explanation concerning any receipts or expenditure which they may call for.
(2) Till regulations as mentioned in sub-section (1) are framed, the provisions of the Jammu and Kashmir Financial Code, presently in force in respect of the municipalities shall be applicable.
(3) The accounts of the Municipal Corporation Fund shall be 1[audited by the Comptroller and Auditor General of India].
(4) For the purpose of examination and audit of the Corporation accounts, the audit agency shall have access to all the Corporation Accounts and to all records and correspondence relating thereto and the Commissioner shall forthwith furnish to the audit agency any explanation concerning any receipts or expenditure which they may call for.
1. Substituted for certain words by S.O. 3466 (E) of 2020 dated 05.10.2020.