Company struck off under Companies Act, 2013

[Raam Srinivasan Swaminathan Kalpathi]

A private limited company's name was struck off u/s. 248 by an application made by the company as Annual Returns and Financial Statements were not filed since 2006-07. Thereafter a shareholder with around 50% equity applied to NCLT for restoration of the name. NCLT had passed favourable orders for the same.

My query is the formats of the audit reports have over the years been dynamic and constantly changing. I will be issuing the audit report in September 2026 for the years commencing from 2006-07. Should I adopt the formats for the respective years or should the format be as it is on date? Thanks

AI Summary

Historical audit reporting requirements govern restored companies' overdue financial statements, while current professional standards govern engagement conduct.
Audit reports for overdue financial years of a company restored after strike-off should follow the reporting framework applicable to each year under audit, rather than the format prevailing when reports are signed. Financial years up to 2013-14 should follow the Companies Act, 1956 framework, while later years should follow the Companies Act, 2013 framework. CARO, internal financial controls reporting, key audit matters, auditing standards, financial-statement presentation rules and accounting standards should apply according to their effective dates. Current professional and ethical requirements remain relevant to the engagement.