Hi Sir
Can you please tell me where in the Companies Act 2013 is the applicability of statutory audit (i.e. who all are compulsorily required to get their books of account audited) mentioned?
1 Answers
It is not specifically stated in any section but it can be interpreted from following
As per sec 129 (2) – Board of Directors has to present financial statement in AGM.
As per sec 143 (2) — Financial statements presented in AGM should be audited & reported to shareholders. AGM takes place each year, so automatically FST should be audited each year for “All COMPANIES”.
Thank you for the reply Sir