SECRETARIAL AUDIT

What is Secretarial Audit

A Secretarial Audit is a type of Audit to check and verify whether the company has complied with all applicable laws and regulations.

It is conducted by the Secretarial Auditor of the company. A Practicing Company Secretary can be appointed as a Secretarial Auditor of the company.

Applicability of a Secretarial Audit:

A secretarial audit is applicable to

  • Every Listed Company
  • Every Public Company having :
  1. A paid up share capital of Rs.50 crore or more
  2. Turnover of Rs.250 crore or more
  • Every company having loans or borrowings from banks and financial institutions of Rs.100 crore or more
The Secretarial Auditor of the company:
  1. Verifies whether the company is in compliance of the corporate laws and other applicable laws of the company
  2. Submits the report to the Board of Directors of the company.
The Secretarial Auditor Report is required to be attached to the Board of directors report of the company and sent to the members of the company along with the notice of the annual general meeting of the company.

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