Under Section 28(1), the annual statement of accounts of the Authority, including the profit and loss account and balance-sheet, shall be prepared in such form as may be prescribed by the Central Government:

Section 28(1) requires the FORM of the Authority's annual accounts to be prescribed by the Central Government specifically 'in consultation with the Comptroller and Auditor-General of India' - not AERA, the RBI, or the ICAI - reflecting the CAG's institutional role as the Authority's statutory external auditor under Section 28(2). This consultative form-prescription ensures the accounting format itself is designed with the auditor's requirements in mind from the outset, rather than being fixed unilaterally by the Government or industry bodies and only later subjected to CAG audit scrutiny after the fact under sub-sections (2) to (4).