26.
| (1) The Board shall cause the accounts of the Corporation to be kept in such form and manner as may be determined by the Board. |
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| (2) The accounts of the Corporation shall be audited by a qualified auditor annually appointed at a meeting of the share-holders of the Corporation : |
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| (3) The shareholders shall determine the remuneration payable to the auditor of the Corporation. |
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| (4) The auditor of the Corporation shall be supplied with a copy of the annual balance sheet of the Corporation, and it shall be his duty to examine such balance sheet together with the accounts and vouchers relating thereto. He shall at all reasonable times have access to the books, accounts and vouchers of the Corporation and shall be entitled to require from the directors and officers of the Corporation such information and explanations as may be necessary for the performance of his duties. |
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| (5) The auditor of the Corporation may, if he so desires, make a continuous audit of the accounts of the Corporation. |
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| (6) The auditor of the Corporation shall make a written report upon the annual balance sheet and accounts of the Corporation and shall in such report state whether he has or has not had access to the books and accounts of the Corporation and whether he has or has not obtained all the information and explanations required by him and whether, in his opinion such accounts are properly drawn up so as to exhibit a true and correct view of the Corporation's affairs according to the best of his information and the explanations given to him and as shown by the books of the Corporation. |
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| (7) The report of the auditor of the Corporation shall be transmitted by him to the Board. |
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| (8) The Board shall cause a copy of the report of the auditor of the Corporation together with a copy of the balance sheet and profit and loss account to which such report refers, to be transmitted to each shareholder and to the Minister in charge of the subject of Finance. |
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| 9. The Financial year of the Corporation shall be the calendar year. |
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| (10) In this section, "qualified auditor" means-
| | (a) an individual who, being a member of the Institute of Chartered Accountants of Sri Lanka, or of any other Institute established by law, possesses a certificate to practise as an accountant, issued by the Council of such Institute; or | | |
| | (b) a firm of Accountants, each of the resident partners of which, being a member of the Institute of Chartered Accountants of Sri Lanka or of any other Institute established by law, possesses a certificate to practise as an accountant issued by the Council of such Institute. | | |
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Sri Lanka Consolidated Acts