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<h1>Companies Act Update: Section 143 Amended to Expand Audit and Financial Control Provisions</h1> Section 143 of the principal Act has been amended by the Companies (Amendment) Act, 2017. The amendments include replacing the term 'its subsidiaries' with 'its subsidiaries and associate companies' in sub-section (1). In sub-section (3), the phrase 'internal financial controls system' is changed to 'internal financial controls with reference to financial statements.' Additionally, in sub-section (14), the term 'cost accountant in practice' is replaced with 'cost accountant.' These changes aim to clarify and expand the scope of the provisions related to company audits and financial controls.