Amendment in Schedule III to the Companies Act – what should be effective date- there is no harm in becoming more transparent voluntarily and as soon as possible.

Amendment in Schedule III to the Companies Act – what should be effective date- there is no harm in becoming more transparent voluntarily and as soon as possible. https://www.taxtmi.com/article/detailed?id=10005 The notification of amendments to Schedule III, effective immediately before the new financial year, prescribes expanded disclosure requirements aligned with accounting and auditing standards. The changes are procedural, aimed at improving stakeholder access to relevant information without infringing vested corporate rights; companies may seek exemptions or withhold sensitive information with justification. The author recommends that financial statements drafted and approved by boards on or after the effective date comply with the amended Schedule III and encourages voluntary early adoption. en-us Thu, 16 Sep 2021 10:38:52 +0530 Thu, 16 Sep 2021 10:38:52 +0530 TaxTMI RSS Generator Amendment in Schedule III to the Companies Act – what should be effective date- there is no harm in becoming more transparent voluntarily and as soon as possible. https://www.taxtmi.com/article/detailed?id=10005 The notification of amendments to Schedule III, effective immediately before the new financial year, prescribes expanded disclosure requirements aligned with accounting and auditing standards. The changes are procedural, aimed at improving stakeholder access to relevant information without infringing vested corporate rights; companies may seek exemptions or withhold sensitive information with justification. The author recommends that financial statements drafted and approved by boards on or after the effective date comply with the amended Schedule III and encourages voluntary early adoption. Articles Corporate Laws / IBC / SEBI Thu, 16 Sep 2021 10:38:52 +0530 https://www.taxtmi.com/article/detailed?id=10005