Print View

[Section Index]

The Industrial Development Corporation Ordinance, 1962

( Ordinance NO. XXXVII OF 1962 )

19. (1) The accounts of the Corporation shall be audited by auditors who shall be chartered accountants within the meaning of the Chartered Accountants Ordinance, 1961, and appointed with the approval of the Government by the Corporation on such remuneration as it may think fit, and such remuneration shall be paid by the Corporation.
(2) Notwithstanding the audit provided for in sub-section (1), the Auditor General shall audit or cause to be audited the accounts of the Corporation.
(3) The Auditor General shall also hold, or cause to be held, a test audit of the undertakings wholly owned by the Corporation and of the Companies of which the Corporation is the Managing Agents, and in the event of a test audit disclosing irregularities, the Auditor General may carry out, or cause to be carried out, such further audit as he considers necessary.
(4) The Corporation and every such undertaking and company as is referred to in sub-section (3) shall produce the accounts, books and connected documents, at the place where they are normally expected to be available, and furnish such explanations and information as the Auditor General or any officer authorised by him in this behalf may require at the time of the audit.
(5) The Auditor General shall, in holding the audit, keep in view the provisions of sub-section (2) of section 5 and state in his report how far in his opinion these provisions have been complied with.

Copyright © 2019, Legislative and Parliamentary Affairs Division
Ministry of Law, Justice and Parliamentary Affairs