COMPANIES ACT - 1963 (ACT 179)

    Section - 136 - Duties and Powers of Auditors

    (1) The auditors of a company while acting in performance of their duties under this Code shall not be deemed to be officers or agents of the company, but shall stand in a fiduciary relationship to the members of the company as a whole and shall act in such manner as faithful, diligent, careful, and ordinarily skilful auditors would act in the circumstances.

    (2) No provision, whether contained in the Regulations of a company, or in any contract, or in any resolution of a company, shall relieve an auditor from the duty to act in accordance with subsection (1) of this section or relieve him from any liability incurred as a result of any breach thereof.

    (3) Every auditor shall have a right of access at all times to the books and accounts and vouchers of the company and shall be entitled to require from the officers of the company such information and explanation as he thinks necessary for the performance of his duties.

    (4) The auditors of a company shall be entitled to attend any general meeting of the company and to receive all notices of, and other communications relating to, any general meeting and to be heard at any general meeting on any part of the business of the meeting which concerns them as auditors.

    (5) The auditors of a company may apply to the Court for directions in relation to any matter arising in connection with the performance of their functions under this Code; and on any such application the Court may give such directions as the Court thinks just; and unless the Court shall otherwise direct, the costs of any such application shall be paid by the company.

    (6) Before accepting appointment as auditor of a company the auditor shall communicate with the retiring auditor, if any, and invite him to make any representations and supply any information about the company which he may care to make and supply.

    (7) The auditors, in addition to their statutory duties to the members under subsection (1) of this section, may, under the terms of their contract with the company, expressly or impliedly undertake obligations to the company in relation to the detection of defalcations, and advice on accounting, costing, taxation, raising of finance and other matters.