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companies act

CA. Raviprakash M.S (Chartered Accountant) (154 Points)

29 October 2007

can anybody clarify the date from which quarterly review of audit report is mandatory for limited companies

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CA. Dashrath Maheshwari (TaXpert) (15103 Points)
Replied 30 October 2007

SEBI, by an amendment to clause 41 of the Listing Agreement has made it mandatory, effective from the quarter ending on June 30, 2003, for all listed companies (including commercial bank to get their quarterly results subjected to “limited review” by the auditors of the company (or by a Chartered Accountant in the case of public sector undertakings) and a copy of Review Report is required to be submitted to the Stock Exchange within two months after the close of the quarter