Hai,
Audit of subsidiary company is compulsory as per Companies Act? if Yes in what section/ case law
2 Replies
Amir
(Learner)
(4016 Points)
Replied 29 April 2010
Hi sajid,
The requirement to get accounts audited in case of subsidary compay arises from the same provision as in case of holding co.
Bhai, Subsidary COMPANY is like any other COMPANY under COMPANIES ACT 1956....
AUDIT OF ACCOUNTS OF SUBSIDARY COMPANY IS THE RESPONSIBILITY OF SUBSIDARY COMPANY ITSELF. (Though it is a different thing that auditors will be appointed by the shareholders in the AGM where holding company will have its say)
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