Audits & Minutes

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Prakash Jasani (Querist)
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28 April 2009 Dear Experts,

Let me know which type of transactions i have to more concentrate at the time of audits especially pvt.ltd.company.

Also guide me which things i have to more concentrate at the time audits which is corelate with minutes & ROC.

In minutes & ROC what to check.

Reply asap.

Regards,
Prakash Jasani

CA CS CMA Srinivasan N

CA CS CMA Srinivasan N (Expert)
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28 April 2009 Hi
With respect to Minutes the decisions taken need to be checked and aligned with the financial impact if any and transactions thereafter. Also important decisions such as appointment of auditors, Directors etc need to be checked with ROC filing and the Statutory registers.

For a general checklist on Audit of Cpmpany mail me at srini.ca@gmail.com

I will send you

Ankur Garg

Ankur Garg (Expert)
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30 April 2009 Audit Vs. Minutes

From the audit of minutes you can find out the validity of following things:

1. Check authority of a person to sign various imp documents.
2. Proper disclosure of interest by a director u/s 299 in board meeting.
3. If any agreement is entered into by the Co. then who is authorised to sign that agreement on behalf of the company.
4. You can also match the roc filing with the minutes. For Ex. if form-2 is filed by the company, check the resolution for allotment of shares in the minutes.

As mention by Mr. Sri important decisions such as appointment of auditors, Directors etc need to be checked from minutes alond with with desired resolutions.