Norms of Corporate Fraud Reporting

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....orms of Corporate Fraud Reporting <br>News and Press Release<br>Dated:- 19-12-2014<br><BR>Section 143 of Companies Act, 2013 read with Rule 13 of Companies (Audit and Auditors) Rules, 2014 mandates th....

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....at if an auditor of a company, in the course of performance of his duties as an auditor, encounters an offence involving frauds committed by officers or employees of a company against such company he ....

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....should immediately report it to the Central Government. In view of representations received from stakeholders, an amendment of Section 143 of Companies Act, 2013 is included in the Companies (Amendme....

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....nt) Bill, 2014 passed by the Lok Sabha on 17.12.2014. The amendment proposes to enable prescription or thresholds beyond which fraud shall be reported to the Central Government. Below such threshold, ....

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....it will be reported to the Audit committee. This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.<BR> News - Press release - PIB....