Secretarial audit requirement for public companies meeting paid-up capital, turnover or borrowing thresholds; report in Form MR.3. Secretarial audit obligation applies to public companies meeting prescribed paid-up capital or turnover thresholds and to companies with outstanding borrowings meeting the prescribed borrowing threshold; the Secretarial Audit Report must be in Form No. MR.3, and paid-up capital, turnover or outstanding borrowings are to be measured as at the last date of the latest audited financial statements.