Section 32(5) in The State Agricultural Credit Corporations Act, 1968
(5)The auditor shall make a report to the Corporation upon the annual balance-sheet and accounts examined by him and in every such report he shall state whether in his opinion the accounts exhibit a true and fair view,-(a)in the case of the balance-sheet, of the state of affairs of the Corporation at the end of the year, and(b)in the case of the profit and loss account, of the profit or loss for the year, and, in case he had called for an explanation or information from the Board, whether it has been given and whether it is satisfactory.
