Internal Financial Controls Reporting By Auditor Exempted

[6/15, 04:53] A very welcome relief. Internal Financial Controls reporting by Auditors not required by:

– OPC

– Small Companies

– Private Companies having less than Rs. 50 Crores as per last audited financial statements or borrowings from Banks and PFIs less than Rs. 25 Crores at any point of time during the financial year

[6/15, 04:53] http://mca.gov.in/Ministry/pdf/ExemptionPrivateCompanies.pdf

[6/15, 04:53] As notified by MCA vide notification dated June 13, 2017

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