10 March 2015
http://www.ey.com/Publication/vwLUAssets/EY-companies-act-13-embedding-risk-management-in-the-business-rhythm/$FILE/EY-companies-act-13-embedding-risk-management-in-the-business-rhythm.pdf
10 March 2015
that section only talks about disclosure in boards' report but i wanted to know in which section it is written that which class of companies is required to implement the policy
10 March 2015
As per Section 177 of the Companies Act, 2013 Audit committee evaluate internal financial controls and risk management systems of the company. Rule 6 Companies (Meetings of Board and its Powers) Rules, 2014 The Board of directors of every listed companies, all public companies with a paid up capital of ten crore rupees or more; all public companies having turnover of one hundred crore rupees or more;all public companies, having in aggregate, outstanding loans or borrowings or debentures or deposits exceeding fifty crore rupees or more require to constitute Audit Committee.
According to my view, class of companies required to constitute Audit committee is required to implement Risk Management Policy . Audit committee will constitute policy.
CAclubindia
