Write short notes on: Reliance of Secretarial Auditor on the reports of other designated auditors.

The mandatory audit areas to be covered during Secretarial audit include finance and taxation areas. The audit of finance is done by the Statutory Auditors of the Company and the details are covered in the Statutory Audit Report provided by him. Tax Audit is done by the Statutory auditor or any other designated auditor, who provides the Tax Audit Report covering the areas of Taxation. The Secretarial Auditor may rely on the Reports given by these professionals on their respective areas while performing his audit duties. However, Secretarial Auditor is expected to report on the Board Processes, Secretarial Compliances as well as the laws covered in Form MR-3 along with the other applicable laws.