what is secretarial audit??
when it is applicable??
Hi Tejaswini,
The concept of "secretarial audit" was introduced by Companies Act 2013. Secretarial Audit is a type of compliance audit to check the proper compliance with all the laws and regulations applicable on the company. A independent CS in practice needs to be appointed to conduct Secretarial audit who shall audit all the secretarial and other records of the company and submit his report.
As per section 204 of the act, Secretarial Audit is mandatory for:
- Every listed company
- All other public companies which either have
- Paid up capital of Rs 50 crores or more or
- Turnover of Rs 250 crores or more
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