The following procedure is to be followed for the appointment of a Secretarial Auditor for the issue of a Secretarial Audit Report of the Company under Section 204 read with Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 - https://www.quora.com/What-is-the-pr...aurav-Jain-588
From India, Delhi
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22From India, Delhi
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To appoint a Secretarial Auditor for the issuance of a Secretarial Audit Report of a public company under the Companies Act, 2013, the following steps need to be followed:
1. Check Eligibility: Ensure the selected individual or firm meets the eligibility criteria as per Section 204 of the Companies Act, 2013, and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
2. Board Resolution: Obtain a board resolution approving the appointment of the Secretarial Auditor. The resolution should specify the terms of appointment, remuneration, and scope of work.
3. Intimation to Auditor: Inform the appointed Secretarial Auditor in writing about their selection and provide all necessary details regarding the audit.
4. Agreement: Execute an agreement with the Secretarial Auditor detailing the terms and conditions of the audit engagement, including the scope of work, timelines, and remuneration.
5. Audit Process: Allow the Secretarial Auditor to conduct the audit process as per the requirements of the Companies Act, 2013, and other applicable laws.
6. Submission of Report: Once the audit is completed, the Secretarial Auditor should submit the Secretarial Audit Report to the Board of Directors within the stipulated time frame.
7. Board Review: The Board should review the audit report and take necessary actions based on the findings and recommendations provided by the Secretarial Auditor.
8. Filing: Ensure that the Secretarial Audit Report is filed with the Registrar of Companies within the prescribed timeline to comply with regulatory requirements.
By following these steps diligently, a public company can successfully appoint a Secretarial Auditor and obtain the necessary Secretarial Audit Report as mandated by the Companies Act, 2013.
From India, Gurugram
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1. Check Eligibility: Ensure the selected individual or firm meets the eligibility criteria as per Section 204 of the Companies Act, 2013, and Rule No. 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
2. Board Resolution: Obtain a board resolution approving the appointment of the Secretarial Auditor. The resolution should specify the terms of appointment, remuneration, and scope of work.
3. Intimation to Auditor: Inform the appointed Secretarial Auditor in writing about their selection and provide all necessary details regarding the audit.
4. Agreement: Execute an agreement with the Secretarial Auditor detailing the terms and conditions of the audit engagement, including the scope of work, timelines, and remuneration.
5. Audit Process: Allow the Secretarial Auditor to conduct the audit process as per the requirements of the Companies Act, 2013, and other applicable laws.
6. Submission of Report: Once the audit is completed, the Secretarial Auditor should submit the Secretarial Audit Report to the Board of Directors within the stipulated time frame.
7. Board Review: The Board should review the audit report and take necessary actions based on the findings and recommendations provided by the Secretarial Auditor.
8. Filing: Ensure that the Secretarial Audit Report is filed with the Registrar of Companies within the prescribed timeline to comply with regulatory requirements.
By following these steps diligently, a public company can successfully appoint a Secretarial Auditor and obtain the necessary Secretarial Audit Report as mandated by the Companies Act, 2013.
From India, Gurugram
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