Books of accounts, f.s, appt of auditors

Companies Act 2013

Provisions of Audit, Accounts & Share Capital

Companies Act 2013 vs.

Companies Act 1956

PREPARATION OF ACCOUNTS &

FINANCIAL STATEMENTS

PREPARATION OF ACCOUNTS &

FINANCIAL STATEMENTS

PREPARATION OF ACCOUNTS & FINANCIAL STATEMENT


Books of Accounts



Books of Accounts



Books of Accounts



Books of Accounts



Books of Accounts



Period for which Books of Accounts

to be kept



Re-opening of Accounts {s 130 not notified yet}



Voluntary Revision of Financial

Statement{S 131, yet to be notified}




Statement{s 131 not

notified yet}




Statement



National Financial Reporting

Authority{s 132 not notified yet}



Format of Balance sheet & Profit & loss

Account



Format of Balance sheet & Profit & loss

Account



Signing of Financial

Statement



Extension of Financial Year

Applicability of Accounting Standards



Mode of sending Financial

Statement

Consolidation of AccountsConsolidation of Accounts


Consolidation of Accounts

Explanation: - For the purposes of this sub-section, the word “subsidiary” shall include associate company and joint venture.





MCA Circular No. 8/ 2014 dated 04.04.2014MCA Circular No. 8/ 2014 dated 04.04.2014

AUDITS & AUDITORS

AUDITS & AUDITORS

APPOINTMENT OF AUDITORAPPOINTMENT OF AUDITOR

Appointment of First Auditors


Appointment of Auditors other

than First Auditor


Appointment of Auditors


Appointment of Auditors on Casual

Vacancy


Eligibility for Appointment of

Auditors


Disqualification for Appointment

of Auditors



of Auditors

Provided that the members of a company may, by ordinary resolution, specify the number of companies beyond which the auditor or audit firm of a company shall not become auditor



of Auditors

Provided that the members of a company may, by ordinary resolution, specify the number of companies beyond which the auditor or audit firm of a company shall not become auditor



of Auditors


Conditions for appointment


Intimation to Registrar of Companies on

Appointment of Auditor

Rotation of Auditors





Explanation– For the purpose of rotation of auditors, break in term for a continuous period of 5 years would only be considered as fulfilling the requirement of eligibility.



Explanation– For the purpose of rotation of auditors, break in term for a continuous period of 5 years would only be considered as fulfilling the requirement of eligibility.




Power & Duties of an Auditor


Power & Duties of an Auditor


Auditor not to provide certain

specified services


Auditor not to provide certain

specified services

Provided that an auditor or audit firm who or which has been performing any non audit services on or before the commencement of this Act shall comply with the provisions of this section before the closure of the first financial year after the date of such commencement.


Limits on appointment of

auditors


Liability of Auditor


Resignation of Auditor


Appointment of firm as auditor

Auditor to attend general meeting


Reading of Auditor Report


Removal of the auditor before

expiry of his term


Internal Audit


Internal Control

Thanks

Arun Gupta

managing counsel

factum legal , advocates & solicitors

Tel : (O) 011-41066313 (M) 9810275571

www.factumlegal.com;

[email protected]

Definiteness of purpose is the starting point of all achievements

Definiteness of purpose is the starting point of all achievements

http://www.factumlegal.com/

Law

Books of accounts, f.s, appt of auditors