Our Recommendations :-
Follow CA Final FB Page

what is the need for secretarial audit ?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked about 3 years ago

    1       1 Answer Now Comment Report
4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered almost 3 years ago

1. Complexity of laws- There are various laws i.e. Company Law, Competition Law, Economic Laws, Securities and Capital Market Laws, Consumer Protection Laws, Industrial and Labour laws, Pollution Control Laws, Foreign Exchange Legislation, etc. which implementation is required thoroughly audit to check their compliances otherwise would be resulted in various punitive actions. 2. Mismanagement and misuse of public funds by several companies. 3. Ensure effective enforcement of laws and to avoid violations of statutory compliances.

    0       0 Comment Report
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered almost 3 years ago

Complexity of laws- There are various laws i.e. Company Law, Competition Law, Economic Laws, Securities and Capital Market Laws, Consumer Protection Laws, Industrial and Labour laws, Pollution Control Laws, Foreign Exchange Legislation, etc. which implementation is required thoroughly audit to check their compliances otherwise would be resulted in various punitive actions. 2. Mismanagement and misuse of public funds by several companies. 3. Ensure effective enforcement of laws and to avoid violations of statutory

    0       0 Comment Report
Data?1494421730 rohit awasthi answered about 3 years ago

Dear friend > Need for secretarial audit -- To ensure effective compliance mechanism; -- To improve quality and speed of compliance; -- To reduce the risk of consequences of non-compliance; -- To provide a level of confidence to the directors, officers in default, Key Managerial Personnel etc; http://image.slidesharecdn.com/secretarialauditicsi-150314004835-conversion-gate01/95/how-to-begin-secretarial-audit-compliance-of-all-applicable-law-6-638.jpg?cb=1426312274

    1       0 Comment Report
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 3 years ago

**NEED FOR SECRETARIAL AUDIT** 1. Complexity of laws- There are various laws i.e. Company Law, Competition Law, Economic Laws, Securities and Capital Market Laws, Consumer Protection Laws, Industrial and Labour laws, Pollution Control Laws, Foreign Exchange Legislation, etc. which implementation is required thoroughly audit to check their compliances otherwise would be resulted in various punitive actions. 2. Mismanagement and misuse of public funds by several companies. 3. Ensure effective enforcement of laws and to avoid violations of statutory compliances. Clause 49 Sub-clause I(C) (iii) of the Listing Agreementsays that “The Board shall periodically review compliance reports of all laws applicable to the company, prepared by the company as well as steps taken by the company to rectify instances of non-compliances.” Therefore, all listed companies required a system for reporting to the Board compliances with laws applicable to them. Hence, a Legal Compliance Reporting System is necessary. 4. Effective tool to boost confidence amongst Directors, Promoters and Key Managerial Personnel. 5. Hence, Secretarial Audit is an effective tool for corporate compliance management. It helps ensure timely corrective measures when non-compliance is detected. Thanks

    0       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
SIGN UP
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.