MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 7 May, 2018
G.S.R. 432 (E).— In exercise of the powers conferred by sections 139, 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit and Auditors) Rules, 2014, namely:—
1. Short title and commencement.- (1) These rules may be called the Companies (Audit and Auditors) Second* Amendment Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Audit and Auditors) Rules, 2014 (hereinafter referred to as the principal rules), in rule 3,‑
(a) Explanation shall be omitted;
(b) proviso to sub-rule (7) shall be omitted.
3. In the principal rules, rule 9 shall be omitted.
4. In the principal rules, in rule 10A, for the words “adequate internal financial controls system”, the words “internal financial controls with reference to financial statements” shall be substituted.
5. In the principal rules, in rule 14,‑
(a) in clause (a), in sub-clause (i), for the words, “who is a cost accountant in practice”, the words “who is a cost accountant” shall be substituted;
(b) in clause (b) for the words “who is a cost accountant in practice”, the words “who is a cost accountant” shall be substituted.
[F. No.1/33/2013.CL-V (Part)]
K.V.R. MURTY, Jt. Secy.
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 246(E), dated the 31st March, 2014 and subsequently amended as follows:‑
1. G.S.R. 722 (E) dated the 14th October, 2014;
2. G.S.R. 972 (E) dated the 14th December, 2015;
3. G.S.R. 307(E) dated the 30th March, 2017;
4. G.S.R. 621(E) dated the 22nd June, 2017; and
5. G.S.R. 174(E) dated the 16th February, 2018.
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G.S.R. 461(E).— In the notification of the Government of India in the Ministry of Corporate Affairs number G.S.R. 432(E), dated the 7th May, 2018, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 7th May, 2018, at page 2, in line 7, for “Amendment” read “Second Amendment”.
[F. No. 1/33/2013-CL-V (Part)]
