Write short notes on: Qualified and Unqualified Secretarial Audit Report

Unqualified Secretarial Audit Report is one which indicates a clean report mentioning that company has complied with relevant law and procedural aspects of Secretarial Records and other relevant records with respect to the company law and other relevant industry specific laws applicable to the Company. Qualified Report is one which indicates the non-compliances, with the provisions of law and procedures. Deviations from secretarial standards and frauds if any, are also reported. Qualifications, reservations and/or adverse remarks, if any, should be stated by the secretarial auditor at the relevant places in his report in bold type and italics. Qualifications/reservations or adverse remarks, if any, should be stated by the secretarial auditor at the relevant places in his report in bold type and in italics. If the secretarial auditor is unable to express an opinion on any matter, he should mention that he is unable to express an opinion on that matter and the reasons therefor. If the scope of work required to be performed is restricted on account of restrictions imposed by the company or on account of circumstantial limitations (like certain books or papers being in the custody of another person who is not available or a Government Authority), the Report should indicate such limitations. If such limitations are so material that the secretarial auditor is unable to express any opinion, the secretarial auditor should state that in the absence of necessary information and records, he is unable to report on compliance(s) relating to such areas by the Company. The Board's Report shall include its comments on the Secretarial Audit Report including the remedial measures adopted to rectify the qualifications, if any, stated in the Secretarial Audit Report.