How would you deal with the following situations under the provisions of the Companies Act, 2013: The Board of directors of a company decides to revise the accounts already submitted to the auditors of the company, which
CS Professional · Advanced Company Law and Practice · PYQS · June 2021
How would you deal with the following situations under the provisions of the Companies Act, 2013: The Board of directors of a company decides to revise the accounts already submitted to the auditors of the company, which have not yet been approved by the shareholders in general meeting;
Answer & Explanation:
In case where Board of Directors of a company has decided to revise the accounts already submitted to the auditors of the company, but not yet approved by the shareholders in General Meeting, there are no fetters for revision. They can opt for Voluntary Revision of Financial Statement or Board Report as per Section 131(1) of the Companies Act, 2013.
Topics: Accounts and Audit
Related Questions in this Topic
- How would you deal with the following situations under the provisions of the Companies Act, 2013: The Board of directors...
- N Ltd wants to revise the financial statements of the Company voluntarily as they have found out certain errors in the s...
- Specify the matters to be included in the Board's Report of one person company and small company as per the provisions o...
- SKD an employee of Moreh Ltd. met with an accident and died. The accident occurred when SKD was on Company's duty. He he...
- Mr. M, a member, appointed Mr. P as his proxy for the annual general meeting of a company in the form as set out in Form...