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of <h1>Clause 47 of Code on Wages: Audited Financials Presumed Accurate, Allows Further Probe if Doubts Arise, Clarifications Permitted</h1> Clause 47 of the Code on Wages, 2019, addresses the presumption of accuracy for balance sheets and profit and loss accounts of corporations and companies, excluding banking companies. During proceedings before specified authorities, if these financial documents are audited by qualified auditors, they are presumed accurate without needing further proof. However, if the authority doubts their accuracy, it can investigate further. Additionally, if a Trade Union or employees involved in a dispute request clarification on any financial item, the authority may order the corporation or company to provide necessary clarifications within a specified timeframe.
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