Section - 142, Companies Act, 2013 Remuneration of auditors. 142. (1) The remuneration of the auditor of a company shall be fixed in its general meeting or in such manner as may be determined therein : Provided that the Board may fix remuneration of the first auditor appointed by it. (2) The remuneration under sub-section (1) shall,…...
Appointment of auditors. Section – 139, Companies Act, 2013
Section - 139, Companies Act, 2013 CHAPTER X AUDIT AND AUDITORS Appointment of auditors. 139. (1) Subject to the provisions of this Chapter, every company shall, at the first annual general meeting, appoint an individual or a firm as an auditor who shall hold office from the conclusion of that meeting till the conclusion of its…...
Copy of financial statement to be filed with Registrar. Section – 137, Companies Act, 2013
Section - 137, Companies Act, 2013 Copy of financial statement to be filed with Registrar. 137. (1) A copy of the financial statements, including consolidated financial statement, if any, along with all the documents which are required to be or attached to such financial statements under this Act, duly adopted at the annual general meeting of the…...
Right of member to copies of audited financial statement. Section – 136, Companies Act, 2013
Section - 136, Companies Act, 2013 Right of member to copies of audited financial statement. 136.(1) A copy of the financial statements, including consolidated financial statements, if any, auditor's report and every other document required by law to be annexed or attached to the financial statements, which are to be laid before a company in its…...
Corporate Social Responsibility. Section – 135, Companies Act, 2013
Section - 135, Companies Act, 2013 Corporate Social Responsibility. 135. (1) Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during shall constitute a Corporate Social Responsibility Committee of the…...
Financial statement, Board’s report, etc. Section – 134, Companies Act, 2013
Section - 134, Companies Act, 2013 Financial statement, Board's report, etc. 134.[(1) The financial statement, including consolidated financial statement, if any, shall be approved by the Board of Directors before they are signed on behalf of the Board by the chairperson of the company where he is authorised by the Board or by two directors…...
Central Government to prescribe accounting standards . Section – 133, Companies Act, 2013
Section - 133, Companies Act, 2013 Central Government to prescribe accounting standards . 133. The Central Government may prescribe the standards of accounting or any addendum thereto, as recommended by the Institute of Chartered Accountants of India, constituted under section 3 of the Chartered Accountants Act, 1949 (38 of 1949), in consultation with and after examination of the…...
Constitution of National Financial Reporting Authority. Section – 132, Companies Act, 2013
Section - 132, Companies Act, 2013 Constitution of National Financial Reporting Authority. 132.(1) The Central Government may, by notification, constitute a National Financial Reporting Authority to provide for matters relating to accounting and auditing standards under this Act. …...
Voluntary revision of financial statements or Board’s report. Section – 131, Companies Act, 2013
Section - 131, Companies Act, 2013 Voluntary revision of financial statements or Board's report. 131. (1) If it appears to the directors of a company that— (a) the financial statement of the company; or (b) the report of the Board, do not comply with the provisions of or they may prepare revised financial statement or a…...
Re-opening of accounts on court’s or Tribunal’s orders. Section – 130, Companies Act, 2013
Section - 130, Companies Act, 2013 Re-opening of accounts on court's or Tribunal's orders. 130. (1) A company shall not re-open its books of account and not recast its financial statements, unless an application in this regard is made by the Central Government, the Income-tax authorities, the Securities and Exchange Board, any other statutory regulatory body or…...