https://www.taxtmi.com/acts?id=13207 Rule 3 creates a branch audit exemption for manufacturing, processing or trading companies when a branch's average quantum of activity falls below a prescribed lower threshold, removing the section 228 auditing requirement for that branch while preserving the company auditor's subsection (2) rights. The rule specifies that the average quantum of activity is usually calculated over the three financial years prior to the relevant year, with shorter averaging periods where the branch has existed for fewer years, and otherwise by reference to the relevant financial year alone. en-us Wed, 25 May 2011 10:39:26 +0530 Wed, 25 May 2011 10:39:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=13207 Rule 3 creates a branch audit exemption for manufacturing, processing or trading companies when a branch's average quantum of activity falls below a prescribed lower threshold, removing the section 228 auditing requirement for that branch while preserving the company auditor's subsection (2) rights. The rule specifies that the average quantum of activity is usually calculated over the three financial years prior to the relevant year, with shorter averaging periods where the branch has existed for fewer years, and otherwise by reference to the relevant financial year alone. Act-Rules Companies Law Wed, 25 May 2011 10:39:26 +0530 https://www.taxtmi.com/acts?id=13207