ICFR to private companies

Questions › Category: General Ques › ICFR to private companies

Nikhil Solanki asked 4 years ago

If once ICFR is applicable to the private entity, in the subsequent years there is a reduction in the turnover, in such case is ICFR will remain applicable or the company is exempt from it

1 Answers

0 Vote Up Vote Down

Ravi Staff answered 4 years ago

We have to check applicability of IFCR every year . So once applicable ,always applicable is not correct . So even if it gets applicable once we will be required to check it again next year.