Institute of Fundamental Studies, Sri Lanka Act 1981 · As enacted · Part VI · Finance
36. Accounts of the Institute
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The Board shall cause proper books of accounts to be kept of the income and expenditure, assets and liabilities and all other transactions of the Institute.
The Board shall cause its books to be balanced as on the thirty-first day of December in each year and shall before the thirty-first day of March next, cause to be prepared an income and expenditure account and a balance sheet containing a summary of the assets and liabilities of the Institute made up to the first-mentioned date.
The income and expenditure account and the balance sheet shall be signed by the Chairman of the Board and by such other officers of the Institute as may be authorized by the Board in that behalf.
The provisions of Article 154 of the Constitution relating to the’ audit of the accounts of public corporations shall apply to the audit of the accounts of the Institute.