Monday, January 16, 2017

Auditor rotation: House panel suggests relief for private firms, subsidiaries of foreign companies

The standing committee felt "justifiable relief" was necessary for private companies and subsidiaries of foreign companies as only 1.6 per cent of total number of unlisted companies are required to rotate their auditors as per the criteria prescribed under the Companies Act 2013. ICAI Recommendation as per the committee will now be crucial.

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