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18/04/2024
Laws of Bangladesh

The Bangladesh Shilpa Rin Sangstha Order, 1972 (President's Order)

( PRESIDENT'S ORDER NO. 128 OF 1972 )

29. (1) The Sangstha shall maintain proper accounts and prepare annual statement of accounts including the profit and loss account and balance sheet, and shall comply in respect of such accounts with such general direction as may be issued by the Government from time to time.
 
 
1[(2) The accounts of the Sangstha shall be audited by not less than two auditors who shall be chartered accountants within the meaning of the Bangladesh Chartered Accountants Order, 1973 (P.O. No. 2 of 1973), and who shall be appointed by the Sangstha 2[* * *]:
 
 
 
 
Provided that the Government may, if it deems it expedient, appoint special auditors for undertaking special audit of the accounts of the Sangstha.]
 
 
 
 
(3) Every auditor appointed under clause (2) shall be given a copy of the annual balance sheet and other accounts of the Sangstha and shall examine 3[it,] together with the accounts and vouchers 4[relating] thereto, and shall have a list delivered to him of all books kept by the Sangstha, and shall at all reasonable times have access to books, accounts and other documents of the Sangstha, and may, in relation to such accounts, examine any Director or 5[officer] of the Sangstha.
 
 
 
 
(4) The auditors shall report to the 6[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 Sangstha 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 Sangstha for the protection of the interest of the 7[Government] and of the 8[creditors] of the Sangstha or upon the sufficiency of the procedure in auditing the affairs in the Sangstha, and may, at any time, enlarge or extend the scope of the audit or direct that different procedure in audit shall be adopted or that any other examination shall be made by the auditors or any other person or persons if, in its opinion, the interest of the 9[Government] so reqires.

  • 1
    Clause (2) was substituted by section 16 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1987 (Act No. XIX of 1987)
  • 2
    The words “with the prior approval of the shareholders in the annual general meeting” were omitted by section 8 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1993 (Act No. IV of 1993)
  • 3
    The word and comma “it,” were substituted for the word “it” by section 12 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 4
    The word “relating” was substituted for the word “reltng” by section 12 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 5
    The word “officer” was substituted for the word “Officer” by section 12 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 6
    The word “Government” was substituted for the word “shareholders” by section 8 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1993 (Act No. IV of 1993)
  • 7
    The word “Government” was substituted for the word “shareholders” by section 8 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1993 (Act No. IV of 1993)
  • 8
    The word “creditors” was substituted for the word “credors” by section 12 of the Bangladesh Shilpa Rin Sangstha (Amendment) Ordinance, 1977 (Ordinance No. XIV of 1977)
  • 9
    The word “Government” was substituted for the word “shareholders” by section 8 of the Bangladesh Shilpa Rin Sangstha (Amendment) Act, 1993 (Act No. IV of 1993)
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