Dear Member
Please advice on the below query
1.It is mandatory for the statutory audit of the private company to report o n the IFC under section 143 of the compnay act 2013.
2. Director Report should prescribed the Directors’ Statement of Responsibility over establishing adequate internal financial controls policy.
Regards
Rahul
Yes from Financial year 2015-16 both are mandatory and the Statutory Auditors have to issue a separate audit report on the IFC to the shareholders. Also the Directors have to confirm in their Responsibilty Statement in the Directors Report , that proper controls existed during the year.
Dear Parag Ji
Could you please share the draft format of the IFC policy adopted by private company in general
CAclubindia
