Auditor's report requirements for companies must address asset records, inventories, loans, compliance, disclosures, tax, and fraud. Order requires the auditor's report to confirm maintenance and verification of tangible and intangible asset records, title deed ownership and revaluation basis; inventory verification and material discrepancies; detailed disclosure and assessment of loans, advances, guarantees, investments and related party exposure including overdue amounts and repayment terms; compliance with statutory provisions relating to loans, deposits and prescribed records; defaults on borrowings, use of raised funds, fraud reporting, tax disclosures, internal audit adequacy, and prescribed disclosures on corporate social responsibility unspent amounts and auditor resignations.
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Provisions expressly mentioned in the judgment/order text.
Auditor's report requirements for companies must address asset records, inventories, loans, compliance, disclosures, tax, and fraud.
Order requires the auditor's report to confirm maintenance and verification of tangible and intangible asset records, title deed ownership and revaluation basis; inventory verification and material discrepancies; detailed disclosure and assessment of loans, advances, guarantees, investments and related party exposure including overdue amounts and repayment terms; compliance with statutory provisions relating to loans, deposits and prescribed records; defaults on borrowings, use of raised funds, fraud reporting, tax disclosures, internal audit adequacy, and prescribed disclosures on corporate social responsibility unspent amounts and auditor resignations.
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