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The Bangladesh Small and Cottage Industries Corporation Act, 1957

( ACT NO. XVII OF 1957 )

38. (1) The accounts of the Corporation shall be audited by auditors who shall be chartered accountants within the meaning of the 1[Bangladesh Chartered Accountants Order, 1973,] and appointed by the Government on such remuneration as it may fix, and such remuneration shall be paid by the Corporation.
(2) Every auditor appointed under sub-section (1) shall be given a copy of the annual balance sheet of the Corporation, and shall examine it together with the accounts and vouchers relating thereto, and shall have a list delivered to him of all books kept by the Corporation, and shall at all reasonable times have access to the books, accounts and other documents of the Corporation, and may in relation to such accounts examine any Director or officer of the Corporation.
(3) The auditors shall report to the share-holders upon the annual balance sheet and accounts and in their report they shall state whether in their opinion the balance sheet exhibits a true and correct view of the state of the Corporation's affairs according to the best of their information and the explanations given to them and as shown by the books of the Corporation, and whether in their opinion books of accounts have been kept by the Corporation in a proper manner and, in case they have called for any explanation or information from the Board, whether it has been given and whether it is satisfactory.
(4) The Government may at any time issue directions to the auditors requiring them to report to it upon the adequacy of the measures taken by the Corporation for the protection of the interests of its share-holders and creditors or upon the sufficiency of their procedure in auditing the affairs of the Corporation, and may at any time enlarge or extent the scope of the audit or direct that a different procedure in audit be adopted or that any other examination be made by the auditor if in its opinion the public interest so requires.

  • 1
    The words, commas and figure “Bangladesh Chartered Accountants Order, 1973,” were substituted for the words, commas and figure “Chartered Accountants Ordinance, 1961,” by section 11 of the Bangladesh Small Industries Corporation (Amendment) Ordinance, 1976 (Ordinance No. XXXIV of 1976)
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