12(1)The accounts of the Council shall be audited by an auditor or auditors appointed annually by the Minister; and any auditor so appointed shall be entitled to require from any officer of the Council such books, deeds, contracts, accounts, vouchers, receipts and other documents, and such information and explanations, as may be necessary for the performance of his duties.
(2)A person shall not be appointed auditor as aforesaid unless he is a member, or is a firm in Scotland each of the partners wherein is a member, of one or more of the following bodies, namely—
the Institute of Chartered Accountants in England and Wales;
the Institute of Chartered Accountants of Scotland ;
the Association of Certificated and Corporate Accountants;
the Institute of Chartered Accountants in Ireland ;
any other body of accountants established in the United Kingdom and for the time being recognised for the purpose of section 161(1)(a) of the [1948 c. 38.] Companies Act 1948 by the Board of Trade.