10.Closure of accounts and disposal of profits.- (1) Every corresponding new bank shall cause its books to be closed and balanced on the 31st day of December of each year and shall appoint, with the previous approval of the Reserve Bank, auditors for the audit of its accounts.(2) Every auditor of a corresponding new bank shall be a person who is qualified to act as an auditor of a company under section 226 of the Companies Act, 1956, and shall receive such remuneration as the Reserve Bank may fix in consultation with the Central Government(3) Every auditor shall be supplied with a copy of the annual balance-sheet and profit and loss account and a list of all books kept by the corresponding new bank, and it shall be the duty of the auditor to examine the balance-sheet and profit and loss account with the accounts and vouchers relating thereto, and in the performance of his duties, the auditor-----(a) shall have, at all reasonable times, access to the books, accounts and other documents of the corresponding new bank.(b) may, at the expense of the corresponding new bank, employ accountants or other persons to assist him in investigating such accounts, and(c) may, in relation to such accounts, examine the Custodian or any officer or employee of the corresponding new bank.(4) Every auditor of a corresp0nding new bank shall make a report to the Central Government upon the annual balance-sheet and accounts and in every such report shall state-----(a) whether, in his opinion, the balance-sheet is a full and fair balance-sheet containing al, the necessary particulars and is properly drawn up so as to exhibit a true and fair view of the affairs of the corresponding new bank, and in case he had called for any explanation or information, whether it has been given and whether it is satisfactory;(b) whether or not the transactions of the corresponding new bank, which have come to his notice, have been within the powers of that bank;(c) whether or not the returns received from the offices and branches of the corresponding new bank have been found adequate for the purposes of his audit;(d) whether the profit and loss account shows a true balance of profit or loss for the period covered by such account; and(e) any other matter which he considers should be brought to the notice of the Central Government.(5) The report of the auditor shall be verified, signed and transmitted to the Central Government.(6) The auditor shall also forward a copy of the audit report to the corresponding new bank and to the Reserve Bank.(7) After making provision for bad and doubtful, debts, depreciation in assets, contributions to staff and superannuating funds and all other matters for which provision is necessary under any law, or which are usually provided for by banking companies, a corresp9nding new bank shall transfer the balance of profits to the Central Government.(8) The Central Government shall cause every auditor's report and report on the working and activities of each corresponding new bank to be laid for not less than thirty days before each House of Parliament as soon as may be after each such report is received by the Central Government.