sec:215

This query is : Resolved

Guest

Guest (Querist)

24 May 2011 as per sec:215(3) The balance sheet and the profit and loss account shall be approved by the Board of directors before they are signed on behalf of the Board in accordance with the provisions of this section and before they are submitted to the auditors for their report thereon.
what does this sec mean ?
does it means BOD to sent b/s and p&l for audit to auditor must be first approved by BOD

CS Bijoy

CS Bijoy (Expert)
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24 May 2011 This section means that B/s and P/l is required to be signed by the Director authorized to sign in the BOD meeting in which the B/S and P/l is approved and than submit to the auditor for auditor's report.