What is this resolution for? The specimen of board resolution provided in this blog is for the appointment of an internal auditor in a company. An internal audit is a controlling tool in the hands of a company that measures and evaluates the effectiveness of its affairs primarily in accounting, operational, and financial matters. The…
Category: Compliance
Board Resolution for Appointment of First Auditor: A Draft
What is this resolution for? The board resolution provided in the below paragraphs is for the first auditor’s appointment in a company. Auditors are to be appointed by every company to ensure that its financial statements for the relevant fiscal year accurately and fairly reflect the company’s state of affairs. It also serves as a…
Form ADT-1: When to file and why?
Form ADT-1 Section 139(1) of the Companies Act 2013 specifies that every company has to appoint a statutory auditor at its Annual General Meeting. The auditor so appointed holds office till the next 5 years subject to his fulfillment of eligibility criteria. After the said period, the company may either appoint a fresh auditor who…
MGT 8 form – Compliance Assurance through it
Form MGT 8 is a certificate issued on the annual return of a company by a practicing company secretary, as provided for under Section 92(2) of the Companies Act 2013. With a view to providing this assurance, the company secretary must closely review the company’s registers, records, books, and documents in order to ensure that…
MGT 7 form – A detailed note on its filing
Annual return (MGT 7) represents a comprehensive document that contains information of a company relating to its share capital, indebtedness, directors, shareholders, corporate governance disclosures, and so on. In this article, you will find a complete guide on MGT 7, its due date, who is required to file it, and how to file MGT 7.…
DIR-3 KYC: File on Time to Avoid Deactivation of DIN
A couple of years ago, the Central Government came up with an initiative of updating the KYC of directors in order to have transparency in DIN holders’ database. Consequentially, the onus is on every director to update his KYC annually via form DIR-3 KYC. Rule 12A and Rule 11(2) and (3) of the Companies (Appointment…
A Complete Guide on Filing of AOC 4 Form
To ensure accountability, good governance, and transparency of a company towards its stakeholders, it is mandatory that proper disclosures of its annual financials, board’s report, and auditors’ report are made. These financials act as a medium of clear communication between the Board of Directors and a company’s shareholders. Form AOC 4 and MGT 7 are…