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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Mutual fund annual accounts must be audited by independent s.141-eligible firm; trustees appoint auditor and include report</h1> Mutual funds must have annual accounts audited by an auditor independent of the asset management company; the auditor must be a firm (including an LLP) eligible to audit company accounts under section 141 of the Companies Act, 2013, which ensures auditor qualification and independence. The trustees shall appoint the auditor and receive the auditor's report, which must be included in the mutual fund's Annual Report, ensuring transparency. The auditor's report must certify receipt of necessary information and explanations, that the balance sheet and revenue account give a true and fair view of scheme affairs and surplus/deficit, and that accounts conform to accounting policies and standards specified in the Eighth Schedule.
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