Board meeting date

. As per Sec 215(3) of Companies Act 1956 , BS and PL account shall be approved by BoD before they are signed on behalf of the Board in accordance with the provisions of this section and before they are submitted to the auditors for their report thereon Then how auditors report can be on the same date of Board meeting of approval of accounts?
 

Replies (5)

On the practical front audit is an ongoing process. It is not when board approve the draft of annual accounts and handover the same to auditors for their report, audit starts.

 

In view of the department also after approval on annual accounts in the BM, auditor can give his report on annual accounts. So the agenda of your BM would be:

 

  1. Approval of annual accounts
  2. Approval of audit report
  3. Approval of directors report
  4. Fixing the date and time of AGM

 

Thanks

RG

Originally posted by : ganesh

. As per Sec 215(3) of Companies Act 1956 , BS and PL account shall be approved by BoD before they are signed on behalf of the Board in accordance with the provisions of this section and before they are submitted to the auditors for their report thereon Then how auditors report can be on the same date of Board meeting of approval of accounts?
 


Thanks for your fast reply sir,

Sir is it possible to have same date for Directors report , audit report and date of board meeting

RG

Yes it is possible.

If you hold the BM and transact all 4 business in the given sequence you can use this BM date as date of dir report, BS Pl and Audit report’s date.

 

RG

RG is absolutely correct. Also you can hold 2 BM on the same day, one in the morning for consideration of unaudited accounts which are given to auditors for finalisation and then one BM in the evening for approval of audited accounts. Thanks.
RG is absolutely correct. Also you can hold 2 BM on the same day, one in the morning for consideration of unaudited accounts which are given to auditors for finalisation and then one BM in the evening for approval of audited accounts. Thanks.

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