Branch audit exemption requires prescribed fee and shareholder approval; managing director certificate and auditor statement must accompany application. Applications for branch audit exemption must use the prescribed form and include the prescribed fee; shareholder approval by ordinary resolution is required unless a transitional closure condition applies. Applications based on alternate audit arrangements must include a managing director or manager's certificate confirming arrangements and an auditor's written statement that the arrangements are adequate and that the branch accounts enable an auditor to certify a true and fair view of the branch's workings.
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.
Branch audit exemption requires prescribed fee and shareholder approval; managing director certificate and auditor statement must accompany application.
Applications for branch audit exemption must use the prescribed form and include the prescribed fee; shareholder approval by ordinary resolution is required unless a transitional closure condition applies. Applications based on alternate audit arrangements must include a managing director or manager's certificate confirming arrangements and an auditor's written statement that the arrangements are adequate and that the branch accounts enable an auditor to certify a true and fair view of the branch's workings.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
