CA Durgesh Kabra Audit Reporting (which is on the basis of the Audit procedures and evidences) is governed by The Companies Act 2013 and relevant rules and standards notified by Central Government or agencies so appointed for the same. As all of us are aware about the Standards on Auditing are applicable to the Auditor […]
Why Auditing Standards are Important?? Auditing Standards are mandatory to be by followed by practitioners under the direction issued by the council of ICAI. If not complied with Auditing Standards in performing Assurance Engagement
SA 700 (Revised) FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS. SA 705 MODIFICATIONS TO THE OPINION IN THE INDEPENDENT AUDITOR’S REPORT. SA 706 EMPHASIS OF MATTER PARAGRAPHS AND OTHER MATTER PARAGRAPHS IN THE INDEPENDENT AUDITOR’S REPORT
As we all are in urge of finalization and procedural requirements related to the various compliances under the Companies Act, 2013. Most of the important matters are related to the Board of Directors which they need to follow as per Companies Act 2013, for the purpose of the same following reference checklist will benefit to one and all.
Private companies under the Companies Act 1956 have been provided with various exemptions/privileges which due to implementation of Companies Act 2013 got reduced/restricted leading to difficulties in smooth functioning of business by private limited companies. Government in consideration of the representations received from various stakeholders considered such exemptions/ privileges to certain extent.
Company and every officer of the company who is in default or such other person shall be punishable with fine which may extend to ten thousand rupees and where the contravention is continuing one with a further fine which may extend to one thousand rupees for every day after the first during which the contravention continues.
LLP is defined as partnership formed and registered under Limited Liability Partnership Act is an alternative corporate business form that gives the benefits of limited liability of a company and the flexibility of a partnership. The LLP can continue its existence irrespective of changes in partners.
As we all know that a Company being an artificial person does not have a physical presence, it acts through its Board of Directors for carrying out its activities and for entering into various agreements. Therefore, Company uses Common Seal as its Signature. Common Seal is the signature of the company to any document on which it is affixed and binds the company for all obligations undertaken in the document.
