Amendment status not verified — confirm the current text below against the official source.
Audit.- (1) The accounts of the Corporation shall be audited once in every financial year, by auditors duly qualified to act as auditor under sub- section (1) of section 226 of the Companies Act, 1956 (1 of 1956), who shall be appointed by the Board and shall receive such remuneration from the Corporation as the Board may fix. (2) The auditors shall be supplied with a copy of the annual balance- sheet and the profit and loss account of the Corporation and it shall be their duty to examine them together with the accounts and vouchers relating thereto, and they shall have a list delivered to them of all books kept by the Corporation and shall at all reasonable times have access to the books,