(1) An auditor of a bank shall submit

(a) to that bank, and

(b) to the Bank of Ghana, at least once in every year, a statutory audit report and a long form audit report.

(2) The auditor shall state in the statutory report whether or not

(a) the accounts give a true and fair view of the state of affairs of the bank and its results for the period under review;

(b) the auditor was able to obtain all the information and explanation required for the efficient performance of the auditor's duties;

(c) the bank's transactions are within the powers of the bank; and

(d) the bank has complied with the provisions of this Act.

(3) The auditor shall submit a long form audit report on the accounts and the affairs of the bank generally and in addition comment on the matters to be specified in Regulations made by the Bank of Ghana.