114. (1) Every auditor of a company 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 directors and officers of the company such information and explanation as may be necessary for the performance of the duties of the auditors.
(2) The auditors shall make a report to the shareholders on the accounts examined by them, and on every balance sheet laid before the company in general meeting during their tenure of office, and the report shall state:
(a) Whether or not they have obtained all the information and explanations they have required, and
(b) Whether the balance sheet referred to in the report is drawn up so as to exhibit a true and correct view of the state of the company’s affairs according to the best of their information and the explanations given to them, and as shown by the books of the company.
(3) The balance sheet shall be signed on behalf of the board by two of the directors of the company, and the auditor’s report shall be attached to the balance sheet, or there shall be inserted at the foot of the balance sheet a reference to the report, and the report shall be read before the shareholders in general meeting, and shall be open to inspection by any shareholder.
(4) Thereafter any shareholder shall be entitled to be furnished with a copy of the balance sheet and auditor’s report at a charge of not more than $0,10 for every 100 words.
(5) If any copy of a balance sheet which has not been signed as required by this section is issued, circulated or published, or if any copy of a balance sheet is issued, circulated, or published without either having a copy of the auditor’s report attached thereto or containing such reference to such report as is required by this section, the company, and every director, manager or other officer of the company who is knowingly a party to the default, shall, on summary proceeding, be liable to a fine of not more than $200.