Appointment of statutory auditors by Company Law Board Fixation of audit fees Guidelines for

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....the light of factual merits of each case. It has, however, been observed that a number of representations are received every year from the auditors generally complaining about the inadequacy of the remuneration fixed by the Company Law Board. These representations, by and large, point to the need for fixing some norms, which may be followed uniformly by the Government companies while sending their recommendation to us so as to avoid discrimination and disparity in making a proper assessment of a reasonable remuneration. It has, therefore, been considered necessary to issue guidelines for Government companies regarding fixation of director's remuneration, a copy of which is enclosed for information and necessary action in determining the rem....

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....ates in the shares, stocks, debentures or other securities of joint stock companies or is otherwise an investment company within the meaning of proviso to sub‑section (1) of section 372. 8. Total loans and advances made, together with number and amount of transactions involved, where a company is engaged in rendering financial assistance to various types of industries or dealing in hire‑purchase business. 9. Total number of vouchers (cash and journal) both with respect to accounts maintained at head office and at branches, units, project sites, etc. 10. Whether the company has decentralised the system of maintaining the accounts, if so, whether it is necessary for the auditors to visit those places for auditing the accounts i....