While preparing Audit report of Private Limited Concern is it necessary to mention in Audit report clause relating to Section 274(1)g of Companies Act?
04 July 2009
Since provision of Sec 274(1)(g) is not applicable to private limited company there for there is no need to mentioned thses in audit report
Section 227(3)(f) requires an auditor to comment in his audit report whether any director is disqualified from being appointed as director under Section 274(1)(g).
The phrase “from being appointed as director” means whether director of private company of which audit is going on is disqualified from being appointed as director in any other company or whether he is disqualified by virtue of his other existing directorship in other public company.
CAclubindia
