Section 31(5) in The Warehousing Corporations Act, 1962
(5)The auditor shall make a report to the shareholders on the accounts examined by him and on the annual balance sheet and the profit and loss account and in every such report, he shall state whether in his opinion the accounts give a true and fair view--(a)in the case of the balance sheet, of the state of the Corporation's affairs at the end of its financial year, and(b)in the case of the profit and loss account, of the profit or loss for its financial year, and in case he has called for an explanation or information from the officers, whether it has been given and whether it is satisfactory.
