Section 18(5) in The Company Secretaries Act, 1980
(5)The annual accounts of the Council shall be prepared in such manner as may be prescribed and be subject to audit by a Chartered Accountant in practice to be appointed annually by the Council:Provided that no member of the Council or a person who has been a member of the Council during the last four years or a person who is in partnership with such member shall be eligible for appointment as an auditor under this sub-section:Provided further that, in the event it is brought to the notice of the Council that the accounts of the Council do not represent a true and fair view of its finances, them the Council may itself cause a special audit to be conducted:Provided also that if such information, that the accounts of the Council do not represent a true and fair view of its finances, is sent to the Council by the Central Government then, the Council may, wherever appropriate cause a special credit or take such other action as it considers necessary and shall furnish an action taken report on it to the Central Government.
