comfor
Joined: 17 Jun 2013
Posts: 18
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 Posted: Wed Jul 24, 2013 11:52 am Post subject: Requirement underneath corporations Act, 1956 |
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Every company registered in India is needed to urge its accounts audited by a active comptroller. Section 224 (1) of the businesses Act, 1956 states that each company, whether or not it\'s public or personal, shall have associate auditor to audit its accounts.
This audit is termed statutory audit and thru it the businesses Act ensures that the persons carrying on business with others cash square measure responsible to them.
Appointment of Auditors
The appointment of auditor is necessary within the Annual General Meeting for the subsequent year. The auditors appointed at the Annual General Meeting hold the workplace from the conclusion of the Annual General Meeting at that he\'s appointed till the conclusion of ensuing Annual General Meeting. Thus, the Act seeks to confirm that the appointment of auditors isn\'t within the hands of the administrators and is unconditional within the general body of shareholders.
Company Formation Services | Foreign Company Registration | Private Limited Company |
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