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Financial statements are formal records of the financial activities and position of a business, person, or other entity. Let us discuss 10 FAQs on the signing of financial statements.
As per the meaning of the Digital Signature and Section 134, we can opine that the financial statements of the Company can be signed either physically or digitally.
If a person has been disqualified in any company due to section 167(1) such person shall be considered as ceased in all other companies wherever he was appointed as a Director.
At an AGM, the directors of the company present an Annual report containing information for the shareholders about the company's performance and strategy.
Nowhere in Section 73 or Rule 16, it has been mentioned about the Certificate of Auditor, but in many cases, ROC's ask for a certificate from the Statutory Auditor of the Company.
Private Limited Companies are allowed to accept Loans from Shareholders of a Company after following the process mentioned under Section 73 of the Companies Act, 2013.
It shall be the duty of the statutory auditor of the appointing company as well as the disqualifying company to report to the members of the company whether any director is disqualified from being appointed as a director.
There are several criticalities in the Annual Filing for the FY ended 31st March 2021. Discussing the same from the point of view of Financial statements via 20 FAQs.
MCA has introduced the Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 that are applicable to FY 2020-21. CSR Spending has been made mandatory w.e.f FY 2020-21.
In Budget 2021, FM announced an Amendment in the LLP Act. In continuation of the same, MCA has issued a press release on 3rd February 2021. A new concept of Small LLP has been introduced.
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