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AUDIT FEES

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 April 2011 OUR COMPANY PAYING A SPECIFIED AMOUNT AS STATUTORY AUDIT FEES ON REGULAR BASIS. BUT DURING THE YEAR ONE OF OUR DIVISION IS SALE TO OUT SIDER. SO OUR DIRECTORS WANT TO REDUCE THE AUDIT FEES ON PROPERSON BASIS. IS IT ACCEPTABLE AS PER LAW.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
12 April 2011 As per Section 224(8), Audit fees are to be fixed by the company in general meeting or the company in general meeting may authorise the board to fix the remuneation.

So the shareholders / board can reduce the audit fees.
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