Agm-auditors report

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ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Querist)

23 July 2014 Can auditors report b taken as read at the AGM under the CA,2013?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

24 July 2014 Yes.

With the permission of the members present, auditor report can be taken as read.

ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Querist)

24 July 2014 Under the new Act, any qualifications,observations or comments on financial matters or matters which have an adverse effect on the functioning of the company mentioned in the auditors report shall be read before the company in the general meeting vide section 145.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

24 July 2014 yes

But that is in relation to any qualification that has any adverse impact on company. In general, any auditor report without any adverse remark of auditor is taken as read with the permission of members present.

ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Querist)

24 July 2014 U R absolutely right but under the old Act,it was obligatory to read the auditors report at AGM.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

24 July 2014 In practical, I have seen at AGM, many times members themselves demand to take auditor report as read as auditor report without any adverse remark is very much standard in nature.

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