Accounts and audit
14. (1) The Institute shall maintain its accounts of the receipts and expenditures in such manner and in such form as the Government may, in consultation with Comptroller and Auditor-General, hereinafter referred to as the Auditor-General specify.
(2) The accounts of the Institute shall be audited by not less than two auditors, being chartered accountants within the meaning of the Bangladesh Chartered Accountants Order, 1973
(P.O. No. 2 of 1973), who shall be appointed by the Institute in consultation with the Auditor-General, and shall, in regard to the extent and method of their audit, be guided by such directions as may be given by the Auditor-General.
(3) Notwithstanding anything contained in sub-section (2), the Auditor-General may, at any time, either of his own motion or upon a request in this behalf from the Government, undertake such audit of the accounts of the Institute as may be considered necessary, and the Institute shall, at the time of such audit, produce the account books and connected documents at such place or places as the Auditor-General may direct, and furnish such explanation and information as the Auditor-General or any officer authorised by him in this behalf may ask for.
(4) Every auditor appointed under sub-section (2) shall be given a copy of the annual balance-sheet of the Institute 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 Institute, and shall at all reasonable times have access to books of accounts and other documents of the Institute, and may in relation to such accounts examine any Director or officer of the Institute.
(5) The auditors shall report to the Government upon the annual balance-sheet and accounts, and in their report they shall state whether in their opinion the balance-sheet contains all necessary particulars and is properly drawn up so as to exhibit a true and correct view of the state of affairs of the Institute and, if they have called for an explanation or information from Board, whether it has been given and whether it is satisfactory.
(6) The Government may, at any time, issue directions to the auditors requiring them to report to it upon the adequacy of measures taken by the Institute for the protection of the interest of the Government and of the creditors of the Institute or upon the sufficiency of the information and other means placed at the disposal of the auditors in auditing the accounts of the Institute.