Section 28

ORDINANCE V OF 2000 BAHRIA UNIVERSITY ORDINANCE, 2000 ORDINANCE V OF 2000 An Ordinance to provide for the establishment of Bahria University at Islamabad [Gazette of Pakistan, Extraordinary, Part I, 7th February, 2000] F.Nor.2(1)/2000-Pub., dated 7-2-2000.--The following Ordinance made by the President is hereby published for general information: 28. University funds, audit and accounts.--(1) The University shall have a fund to which shall be credited all direct donations, trusts, bequests, endowments, grants, proportionate budget from the Government, assistance from International Agencies, contributions, shares of fee and income from any other sources and which shall be under the control of the Board. (2) The Constituent Units shall be financed from the following sources, namely:-- (a) Annual budgets from their respective service headquarters or ministries; (b) proportionate share of fees, including examination fees through the University budget; (c) any grants from the Government; (d) any sale of royalties or publications; and (e) any assistance from the University Fund as decided by the Board. (3) Capital and recurring expenditure of the University shall be met from the allocation made by the Board out of the University Fund. (4) No contribution; donation or grant which may directly or indirectly involve any immediate or subsequent financial liability for the University, or which may involve an activity not included in its programmes for the time being, shall be accepted without prior approval of the Board. (5) The accounts of the University shall be maintained in such form and manner as may be determined by the Board and shall be audited each year within six months of the closing of the financial year of the University by the Controller of Naval Accounts audit team or a Chartered Accountant 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 auditor has complied with the standards of audit and certification laid down by the Institute of Chartered Accountants of Pakistan.