ABC Pvt. Ltd. is a subsidiary company of a XYZ Ltd. having a paid up capital of ₹60 Crore and Turnover of ₹180 crore as per the audited balance sheet as on 31st March, 2021. Referring to the provisions of the Companies A

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2021
ABC Pvt. Ltd. is a subsidiary company of a XYZ Ltd. having a paid up capital of ₹60 Crore and Turnover of ₹180 crore as per the audited balance sheet as on 31st March, 2021. Referring to the provisions of the Companies Act, 2013, answer the following: Whether the Cost Accountant in Practice who is also a Company Secretary can be a competent professional for the appointing as a 'Secretarial Auditor'?

Answer & Explanation:

As per section 204 (1) of Companies Act, 2013, only Company Secretary in Practice has been exclusively recognised for conducting Secretarial Audit. Hence, the Cost Accountant in Practice cannot be appointed as Secretarial Auditor.

Topics: Secretarial Audit

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