Auditor's Report on Consolidated Financial Statements under the Companies Act, 2013

The Auditing and Assurance Standards Board, has issued the illustrative formats of the Auditor's Report for modified opinion and unmodified Opinion [will be added as an appendix to SA 705 and SA 700 respectively] on Consolidated Financial Statements (CFS) of a company under the Companies Act 2013.Securities and Exchange Board of India (SEBI) has directed Stock Exchanges to impose hefty penalty on listed companies for non- appointment of women director till March 31, 2015 as required under the provisions of Companies Act, 2013 minimum amount, being ` 50,000/-.