Audit Books of Accounts of Corporate
Audit Books of Accounts of Corporate
COMPANIES (AUDIT AND AUDITORS) RULES, 2014 Sub-section (2) of section 139 of the Companies Act, 2013 (the Act) has introduced a novel concept for the rotation of auditors in listed companies and in such class or classes of companies as may be prescribed. In exercise of the powers conferred on the Central Government, the Central Government in the Ministry of Corporate Affairs has prescribed in rule 5 of the Companies (Audit and Auditors) Rules, 2014 (Audit Rules) that this concept of rotation of auditors would also apply to the following classes of companies excluding one person companies and small companies : All unlisted public companies having paid-up share capital of Rs.10 crore or more All private limited companies having paid-up share capital of Rs.20 crore or more All public and private limited companies having a paid-up share capital of less than the threshold limit set out above but having public borrowings from financial institutions, banks or public deposits of Rs. 50 crore or more. It should be noted that the limit of Rs.50 crore on public borrowings would apply to the aggregate borrowing from financial institutions, banks and public deposits and not to borrowings of Rs.50 crore prescribed, individually from each of the categories listed.
Documents Required:
- Tally Data(Tally Data)
- Balance Sheet(Balance Sheet For FY 2022-23)
- Profit and Loss A/s(Profit and Loss A/s for FY 2022-23)
- Bank Statement(Bank Statement for FY 2022-23)
- GST Return(GST Return for FY 2022-23)
- Others(Others Documents )
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