Companies (Audit and Auditors) Amendment Rules, 2018 - F. No. 1/ 33/2013.CL-V (Part) - Companies Law

GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 07 May, 2018 G.S.R. 432 (E)- In exercise of the powers conferred by sections 139 , 143, 147 and 148 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013) , the Central Government hereby makes the following rules further to amend the Companies (Audit and Auditors) Rules, 2014 , namely:- 1. Short title and commencement.- (1) These rules may be called the Companies (Audit and Auditors) 1 [ Second Amendment] Rules, 2018. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Audit and Auditors) Rules, 2014 (hereinafter referred to as the principal rules), in rule 3 ,- (a) Explanation shall be omitted; (b) proviso to sub-rule (7) shall be omitted. 3. In the principal rules , rule 9 shall be omitted. 4. In the principal rules , in rule 10A , for the words adequate internal financial controls system , the words internal financial controls with reference to financial statements shall be substituted. 5. In the principal rules , in rule 14 ,- (a) in clause (a), in sub-clause (i), for the words, who is a cost accountant in practice , the words who is a cost accountant shall be substituted; (b) in clause (b) for the words who is a cost accountant in practice , the words who is a cost accountant shall be substituted. [F. No. 1/ 33/2013.CL-V (Part)] K.V. R. Murty, Jt. secy. ******************** Notes:- 1. Substituted vide F. No. 1/33/2013-CL-V (Part) - Dated 17-05-2018 , before it was read as, Amendment