Branch audit exemption conditions: access, annual audit reporting and balance-sheet certification required to preserve exemption. Conditions for claiming a branch audit exemption require that the company permit the person employed to audit the branch full access to branch books, accounts and vouchers and provide information and explanations; that person must prepare and forward an annual report on the branch accounts to the company's auditor while the exemption is in force; and the company must attach to each balance sheet a certificate that no material change has occurred in the arrangements for auditing the branch accounts, signed by specified officers.
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 conditions: access, annual audit reporting and balance-sheet certification required to preserve exemption.
Conditions for claiming a branch audit exemption require that the company permit the person employed to audit the branch full access to branch books, accounts and vouchers and provide information and explanations; that person must prepare and forward an annual report on the branch accounts to the company's auditor while the exemption is in force; and the company must attach to each balance sheet a certificate that no material change has occurred in the arrangements for auditing the branch accounts, signed by specified officers.
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