Hi everone,
I want to know whether statutory auditor is reqd. to comment on the violation in the case if there is no audit committee in a non listed public comapny. The company has met the criteria, but it has not formed any audit committee. Is statutory auditor liable to mention it anywhere. if so wr?
Dear Barani,
Yes, it is the duty of the statutory auditor to mention in his report that the company has not formed the Audit committee in terms of Sec 292 A..
Further, the same thing will be highlighted in the "COMPLIANCE CERTIFICATE" required by a CS.
Mr.Amir,
Actually i wanted to know wr the Auditor need to reply? Is it in CARO, if so under which clause? If not in CARO wr will he report?wat is his duty in this regard.
CAclubindia
