06 August 2013
We are a pvt limited co having less then 50 employees. Is AS 15 actuarial valuation applicable ?
As per AS 15 applicable we come under SMC and hence we think it is not applicable. However as per our auditors according to Companies Accounting rules 2006, there is no limit on number of employee. it is applicable for us and we need to actuarial valuation
06 August 2013
The auditors are correct in their stand. With the Companies (Accounting Standard) Rules, 2006 coming in to force, AS-15 is applicable to all companies irrespective of the number of employees. The exemption of 50 employees is provided to non-corporate entities where the AS issued by ICAI is applicable.
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