Section 35 of The Airports Economic Regulatory Authority of India Act, 2008
- (1)The Authority shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India.
- (2)The accounts of the Authority shall be audited by the Comptroller and Auditor- General of India at such intervals as may be specified by him.
- (3)The Comptroller and Auditor-General of India or any person appointed by him in connection with the audit of the accounts of the Authority under this Act shall have the same rights, privileges and authority in connection with such audit, as the Comptroller and Auditor-General of India generally 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 Authority.
- (4)The accounts of the Authority, as certified by Comptroller and Auditor-General of India or any other person appointed by him in this behalf, together with the audit report thereon, shall be forwarded annually to the Central Government and the Central Government shall cause the same to be laid before each House of Parliament.
Summary
- The Authority must keep proper financial records and prepare an annual statement of accounts.
- The specific format of these accounts is decided by the Central Government, who must consult with the Comptroller and Auditor-General of India first.
- The Comptroller and Auditor-General of India is responsible for auditing the Authority's accounts.
- The auditor has strong investigative powers, including the right to demand books, vouchers, and inspect the Authority's offices.
- After the audit, the certified accounts and the audit report are sent to the Central Government.
- Finally, the Central Government must present these documents before both Houses of Parliament.
Practical examples
FAQ
1. Who decides how the Authority's accounts should look?
The Central Government decides the form, but they must consult the Comptroller and Auditor-General of India.
2. Who checks the Authority's math and spending?
The Comptroller and Auditor-General of India audits the accounts.
3. Can the Authority refuse to show their financial documents to the auditor?
No, the auditor has the legal right to demand books, accounts, and vouchers, and to inspect the offices.
4. What happens to the final audit report?
It is sent to the Central Government, which then lays it before both Houses of Parliament.
Test yourself
Q1.Under Section 35 of The Airports Economic Regulatory Authority of India Act, 2008, who has the final authority to prescribe the form of the annual statement of accounts?
Q2.Under Section 35 of The Airports Economic Regulatory Authority of India Act, 2008, what specific right does the Comptroller and Auditor-General possess during an audit of the Authority?
Q3.Under Section 35 of The Airports Economic Regulatory Authority of India Act, 2008, what must the Central Government do with the certified accounts and audit report once received?
Q4.Under Section 35 of The Airports Economic Regulatory Authority of India Act, 2008, how often are the accounts of the Authority required to be audited by the Comptroller and Auditor-General?