How and Why You Should Conduct a Company Audit?

As per the Companies Act, 2013 all companies which are registered in India are required to maintain books of accounts and get it audited by a practicing chartered accountant every year after closing of each financial year. And, the audit report along with the financial statements and annual return prepared by the management of the company is required to be filed with the Registrar of companies or ROC of the state where such companies are registered.

There is no time limit for conducting company audit but there are some other provisions which specify the time limit of getting books of accounts audited. As per the company act, 2013 every private has to conduct its annual general meeting (AGM) within 6 months to present audited financial statements before the shareholders.

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