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24

Institute Fund, audit and accounts

Act: Ao Post Graduate Institute Of Orthopaedic Sciences Ordinance 2013

Section Provisions

ORDINANCE IX OF 2013 ORDINANCE IX OF 2013 AO POST GRADUATE INSTITUTE OF ORTHOPAEDIC SCIENCES ORDINANCE, 2013 An Ordinance to provide for the establishment of an Institute known as the AO Post Graduate Institute of Othopaedic Sciences [Gazette of Sindh, Extraordinary, Part I, 31st May, 2013] No. S.Legis: 1(9)/2013, dated 31-5-2013.---The following Ordinance made by the Governor of Sindh is hereby published for general information:-- Preamble.---Whereas it is expedient to provide for the establishment of an Institute known as the AO Post Graduate Institute of Othopaedic Sciences and to provide for matters ancillary thereto; And whereas the Provincial Assembly is not in session and the Governor is satisfied that circumstances exists which render it necessary to take immediate action; Now, therefore, in exercise of the powers conferred by clause (1) of Article 128 of the Constitution of the Islamic Republic of Pakistan, 1973, the Governor is pleased to make and promulgate the following Ordinance:-- 24. Institute Fund, audit and accounts.---(1) The Institute shall have a Fund to which shall be credited its income from fees, donations, trusts, bequests, endowments, contributions, grants and all other sources. (2) The capital and recurrent expenditure of the Institute shall be met from the contribution made by the Society. (3) No expenditure shall be made from the funds unless a bill for its payments has been audited by the Audit Officer of the Institute in accordance with the rules made under this Ordinance. (4) No contribution, donation or grant which may directly or indirectly involve any immediate or subsequent financial liability of the Institute or which may involve an activity not included in the programs for the time being, shall be accepted without the prior approval of the Board. (5) The accounts of the Institute shall be maintained in such form and in such manner as may be determined by the Board and shall be audited each year within four months of the closing of the financial year of the Institute by a firm of Chartered Accountants appointed by the Board. (6) The accounts, together with the report of the Auditor thereon, shall be submitted to the Board for approval. (7) The Auditor's report shall certify that the report has complied with the standards of audit and certification laid down by the Institute of the Chartered Accountants of Pakistan.