(1)

The accounts kept under Section 15 shall be balanced each year on the 31st day of March or such other day, as may be fixed by the Registrar.

(2)

The accounts shall be audited annually in such manner as may be prescribed and by a person who is a holder of a certificate granted under Section 144 of the Indian Companies Act, 1913 (VII of 1913), or is a member of an institution or association, the members of which have been declared under that section to be entitled to act as auditors of companies or by such persons as may be authorised in this behalf by the State Government or in the case of a public trust, the gross annual income of which does not exceed one thousand rupees, by a person approved by the Registrar by a general or special order.

(3)

Every auditor acting under sub-section (2) shall have access to the accounts and to all books, vouchers, other documents and records in the possession of, or under the control of the working trustee or the manager.

(4)

Notwithstanding anything contained in sub-sections (1) and (2) to the contrary, the Registrar may direct a special audit of the accounts of any public trust whenever in his opinion such special audit is necessary.

The provisions of sub-sections (2) and (3) shall, so far as may be applicable, apply to such special audit. The Registrar may direct the payment of such fee as may be prescribed for such special audit and the working trustee or the manager shall be liable to pay the same from the trust property.