AGRICULTURAL DEVELOPMENT CREDIT AND CO-OPERATIVE BANK ACT - 1965 (ACT 286)

Section - 25 - Duties and Powers of Auditors, Etc

(1) In the discharge of his functions under this Act the auditor of the Bank shall have access at all reasonable times to the books, accounts and other documents of the Bank and may at the expense of the Bank if appointed by the Bank and at the expense of the Government if appointed by the Minister, employ accountants or other persons to assist him in investigating the accounts and may in relation to such accounts examine any director or employee of the Bank.

(2) The auditor of the Bank shall be supplied by the Bank with all notices and other communications relating to any general meeting which any shareholder of the Bank is entitled to receive and shall be entitled to attend any such meeting and to be heard thereat on any part of the business of the meeting which concerns him as auditor but he shall not be entitled to vote on any matter before the meeting.

(3) The auditor shall make a report to the shareholders or to the Minister, as the case may be, upon the annual statements of accounts and in every such report he shall state whether, in his opinion, the balance sheet shows a full and fair view of the state of the Bank's affairs, and where he has called for any explanation or information from the Board, whether it was given and whether it is satisfactory.

(4) Any such report made to the shareholder shall be read together with the report of the Board at the annual general meeting.

(5) The Bank shall furnish to the Minister such returns and statements concerning the affairs of the Bank as the Minister may require from time to time.