Audit of branch offices: branch auditors may be appointed while company auditor retains visitation and full access rights to records. Branch office accounts must be audited by the company's auditor or a person qualified as such, or by a locally authorised accountant for foreign branches; where another person audits, the company's auditor retains rights to visit the branch and access its books, with certain accommodations for foreign banking branches. A company may appoint a branch auditor in general meeting with equivalent powers and duties, reporting obligations to the company's auditor and remuneration/terms fixed by the company or board; the Central Government may exempt branches by rule having regard to audit arrangements, activity level, auditor availability and other factors.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Audit of branch offices: branch auditors may be appointed while company auditor retains visitation and full access rights to records.
Branch office accounts must be audited by the company's auditor or a person qualified as such, or by a locally authorised accountant for foreign branches; where another person audits, the company's auditor retains rights to visit the branch and access its books, with certain accommodations for foreign banking branches. A company may appoint a branch auditor in general meeting with equivalent powers and duties, reporting obligations to the company's auditor and remuneration/terms fixed by the company or board; the Central Government may exempt branches by rule having regard to audit arrangements, activity level, auditor availability and other factors.
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