Statutory audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 May 2012
In Which Section Statutory Audit is Compulsory as per companies act, 1956???
Is it Compulsory for every Private and Public limited compay...
If it is compulsory, then what is the reason behind it..???
Is it Compulsory for every Private and Public limited compay...
If it is compulsory, then what is the reason behind it..???
09 May 2012
Check section 224 of the Companies Act, 1956. The audit of a company is compulsory as there is a divide between the owner and the management of the company. The shareholders must not necessary be the directors of the Company. In order to enable the shareholders to have a control over the directors and to check any unusual utilisation of their amount invested in the Company, the statutory audit is made compulsory.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Minimum tax payable to file Updated return
- UDIN ISSUE
- GST ISSUE OF INPUT AND OUTPUT GST
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Salary from Qatar in Dollars in India
- Change Of Karta In Case of Death
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
