law: Life Insurance Corporation Act, 1956 
  25. Audit.- 
  1.     
  
    The
  
  accounts of the Corporation shall be audited by auditors duly qualified to act
  
  as auditors of companies under the law for the time being in force relating to
  
  companies, and the auditors shall be appointed by the Corporation with the previous
  
  approval of the Central Government and shall receive such remuneration from the
  
  Corporation as the Central Government may fix.
  2.     
  
    Every
  
  auditor in the performance of his duties shall have at all reasonable times
  
  access to the books, accounts and other documents of the Corporation.
  3.     
  
    The
  
  auditors shall submit their report to the Corporation and shall also forward a
  
  copy of their report to the Central Government.