Section 34 in The M.P. (Rajya) Bhumi Vikas Nigam Adhiniyam, 1976
34. Audit.
(1)The accounts and affairs of the Nigam shall be audited by the auditor duly qualified to act as auditor of companies under sub-section (1) of Section 226 of the Companies Act, 1956 (Central Act 1 of 1956) who shall be appointed by the State Government and shall receive such remuneration from the Nigam as the State Government may fix at the time of appointment.(2)The auditor so appointed shall hold office for such period as may be fixed by the State Government.(3)The auditor shall be supplied with a copy of the annual balance sheet of the Nigam and it shall be his duty to examine it, together with the accounts and vouchers relating thereto, and the auditor shall have a Us delivered to him of all books kept by the Nigam and shall at all reasonable times have access to the books, accounts and other documents of the Nigam.(4)The auditor may, in relation to the accounts of the Nigam, examine any director or any officer or employee of the Nigam, and shall be entitled to require from them or any of them such information and explanations as the auditor may think necessary for the performance of his duties.(5)The auditor shall make a report to the Board upon the annual balance sheet and accounts and in every such report, he shall state whether in his opinion the balance sheet is a full and fair balance sheet containing a I necessary particulars and properly drawn up so as to exhibit true and correct view of the state and affairs of the Nigam and in case he had called for any explanation or information whether it had been given and whether it was satisfactory.(6)Every audit report under this Section shall be forwarded both to the Central Government and the State Government.
