CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
19 June 2009Is it necessary that each and every matter which was placed before the Audit committee should come to the Board?
In my opinion it is not necessary. Am i right?
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 19 June 2009
No. I disagree with you.
One of the Agenda of Board Meeting is "To take note of the minutes of Audit Committee meeting." So i would say each and every matter which was placed before the Audit committee come to the Board in the form of Minutes of Audit Committee.
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17848 Points)
Replied 19 June 2009
Thank you Sir,
I agree with you. But if each and every item is placed before the audit committee why we place a separate Audit Committee consist of Independent Directors. We approved results therein and the Board not take part in that meeting. Thereafter the results come into the Board meeding as approved by the Audit Committee. Then if the minutes are noted by the board, then we can approve the results in the Board why we are doing the same practice two times?
Khushboo Maheshwari
(Company Secretary)
(548 Points)
Replied 19 June 2009
Yeah even i agree with Srivastava sir, if board has to approve each and every item then what is the need of committees
CAclubindia
