Section 43 of NMC Act : Section 43: Audit And Accounts

NMC Act

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Explanation using Example

Imagine a scenario where the National Medical Commission (NMC), which is responsible for regulating medical education and practices in India, is concluding its financial year. According to Section 43(1) of The National Medical Commission Act, 2019, the NMC is required to maintain its accounts accurately. To comply with this, the NMC's finance department works diligently to record all transactions and prepares an annual statement of accounts. They do this in a specific format that has been prescribed in consultation with the Comptroller and Auditor-General of India (CAG).

As the year ends, the...

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