Audits, etc.
26. [(1)The Corporation shall maintain proper accounts and prepare annual statement of accounts and balance sheet for every financial year.
(1A) The annual statement of accounts of the Corporation shall include financial statements audited by external auditors appointed by the respective subsidiary, and such other information about the subsidiaries as may be deemed necessary by the Board.]
(2) The accounts of the Corporation 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 Government for a term not exceeding three years on such remuneration as it may determine.
(3) Every auditor appointed under sub-section (2) shall be given a copy each of the annual balance sheet and profit and loss account of the Corporation and shall examine them 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 books, accounts and other documents of the Corporation and may, in relation to such accounts, examine any Director or officer of the Corporation.
(4) The auditors shall report to the shareholders upon the annual balance sheet and profit and loss account, and in their report they shall state whether in their opinion the balance sheet and the account contain all necessary particulars and are properly drawn up so as to exhibit a true and correct view of the state of affairs of the Corporation, and in case they have called for any explanation or information from the Board, whether it has been given and whether it is satisfactory.
(5) 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 Corporation for the protection of the shareholders and of the creditors or upon the sufficiency of their procedure in auditing the affairs of the Corporation, and may, at any time, enlarge or extend the scope of the audit or direct that a different procedure in audit be adopted or that any other examination be made by the auditors if in its opinion the public interest so requires.
(6) The Corporation shall furnish to each shareholder at least fifteen days before the date of the annual general meeting a copy of the audited balance sheet together with a copy of the profit and loss account for the financial year and a report on the working of the Corporation during that year.
(7) In addition to audit to be made by the two auditors appointed under sub-section (2), the Government may cause the accounts of the Corporation audited by the Comptroller and Auditor-General of Bangladesh.