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of <h1>Government Companies Advised to Adjust Audit Fees for Inflation, Per 1984 Circular on Statutory Auditors.</h1> The circular issued on June 7, 1984, addresses the appointment of statutory auditors by the Company Law Board and the fixation of audit fees. It references earlier guidelines from 1976 concerning audit fees for statutory auditors of government companies. The Institute of Chartered Accountants of India highlighted significant increases in audit-related costs, such as salaries and stationery, due to inflation, which have not been matched by corresponding increases in audit fees. Consequently, the board of directors of government companies is advised to consider inflation and rising costs when recommending audit fees for statutory auditors.
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