If there is no business activities in the Private Ltd Company (Share Capital 75 lakhs) since 4-5 years, Is it important to add Going Concern Point in Independent Audit Report as per Companies Act 2013.
2 Replies
Tanuj Chandra Saxenaa
(Company Secretary)
(7075 Points)
Replied 28 December 2021
Yes going concern is a mandatory concept it has to be report in Independent Audit Report
madhavendra shenoy
(4 Points)
Replied 01 January 2022
Also check the networth of the company, the position of working capital etc. Management is required to give a note in FS on the basis of preparation of accounts under going concern. Auditor to comment in Auditor's report ( may be through EOM) on Going Concern depending on the facts of the case.
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