Companies (Removal of Difficulties) First Order, 2016

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....gust, 2013 and section 1 thereof came into force on the same date; And, whereas, the provisions contained in section 143 of the said Act which provides for powers and duties of auditors and auditing standards has come into force on the 1st April, 2014; And, whereas, sub-section (11) of section 143 of the said Act provides that the Central Government may, in consultation with the National Fin....

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....ounting standards for adoption by companies or class of companies; And, whereas, sub-section (4A) of section 227 of the Companies Act, 1956 (1 of 1956), which corresponds to sub-section (11) of section 143 of the Companies Act, 2013, (18 of 2013) provides that the Central Government may consult the Institute of Chartered Accountants of India constituted under the Chartered Accountants Act, 1949....

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....has issued the Companies (Auditor's Report) Order, 2015 on 10th April, 2015 for financial year 2015-16 vide notification number S.O.990 (E) dated the 10th April, 2015 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) and proposes to issue similar Order to be applicable from the financial year 2015-16 onwards; And, whereas, difficulties have arisen regarding ....