(1) The accounts of the Institute shall be audited by auditors duly qualified to act as auditors of companies under theCompanies Act, 1956 , and the institute shall appoint such auditors as the Central Government may, after consultation with the Comptroller and Auditor-General of India and the Institute, select.
(2) The Central Government may issue such directions to the auditors in the performance of their duties as it thinks fit.
(3) Every such auditor in the performance of his duties shall have at all reasonable times access to the registers, books of account, records, and other documents of the Institute.
(4) The auditors shall submit their report to the Institute and shall all forward a copy thereof to the Central Government for its information.
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