Audit & Assurance
13864 Points
Posted on 28 July 2016
Schedule III of the Companies Act, 2013 prescribes the figures in which the financial statements are needed to be prepared. For turnover less than 100 crores rupees, the rounding up can be done to nearest hundreds, thousands, lakhs or millions. The comparative figures are also required to be shown to the same rounding up. Shareholders approval is not required in this regard