(1)Subject to the provisions of sub-section (5), every account described in section 120 shall be audited and examined once in every year by an auditor appointed by the Board.(2)The accounts of [the Board acting as a Committee under the provisions of section 85] [Substituted for the words "the local committees described in section 85" by Punjab Act 53 of 1953, section 23.] shall be audited by an auditor [appointed by the [Government of the State of Punjab] [Substituted for the words 'who may act as auditor under the provisions of section 144 of the Indian Companies Act, 1913' by Punjab Act 1 of 1959 Section 40.][Substituted by Punjab Act 53 of 1953, Section 21.].(3)The Board shall maintain a list of not less than five auditors nominated by the Board with the previous sanction of the [State] [Substituted for the word [Provincial] by the Adaptation of Laws Order, 1950.] Government for the purpose of the audit of the accounts of committees other than those specified in sub-section (2), and no auditor, whose name is not on the list, shall be appointed to audit such accounts.(4)If within six months of the constitution of the Board the Board has failed to nominate auditors as required by sub-section (3) the [State] Government may appoint such number of auditors as are necessary to complete the list.(5)The committee of any Notified Sikh Gurdwara whose gross annual monetary income does not exceed two thousand rupees, may, with the sanction of the Board cause the account of such gurdwara to be audited less frequently than on in every year or may with like sanction dispense with the audit and examination of such account.(6)For the purpose of any such audit and examination the auditor may by a demand in writing, require from the committee or any member or servant of the committee the production before him of all books, deeds, vouchers and all other documents and papers which he deems necessary, and may require any person holding or accountable for any such books, deeds, vouchers, or papers to appear before him at any such audit and examination and to answer all questions which may be put to him with respect to the same or to prepare and submit any further statement which such auditor may consider necessary.
