Section 212 of the companies act,1956

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 August 2011 As per Section 212 of Companies Act,1956 if Indan Co has Foreign Subsidiary Company Accounts are to be converted in Indian Standard and then filed with ROC,

Is it Compulsory to convert this accounts form statutory auditor or can we get it Converted form any other Auditor also

CS Bijoy

CS Bijoy (Expert)
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23 August 2011 The foreign subsidiaries accounts will have to be presented in INR. The accounts so converted in INR will be certified by an Indian audit firm exhibiting a foot note giving the basis of conversion and that the auditor accepts responsibility for the conversion only, based on the accounts submitted to him for such conversion.

form the above we can say it is not compulsory.