TMI BlogPowers and duties of auditors.X X X X Extracts X X X X X X X X Extracts X X X X ..... en properly secured and whether the terms on which they have been made are not prejudicial to the interests of the company or its members; (b) where transactions of the company which are represented merely by book entries are not prejudicial to the interests of the company; (c) where the company is not an investment company within the meaning of section 372 or a banking company, whether so much of the assets of the company as consist of shares, debentures and other securities have been sold at a price less than that at which they were purchased by the company; (d) whether loans and advances made by the company have been shown as deposits; (e) whether personal expenses have been charged to reve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w have been kept by the company so far as appears from his examination of those books, and proper returns adequate for the purposes of his audit have been received from branches not visited by him; [2] [(bb) whether the report on the accounts of any branch office audited under section 228 by a person other than the company's auditor has been forwarded to him as required by clause (c) of sub-section (3) of that section and how he has dealt with the same in preparing the auditor's report;] (c) whether the company's balance sheet and profit and loss account dealt with by the report are in agreement with the books of account and returns; [3] [(d) whether, in his opinion, the profit and loss account and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rcumstances of the case.] [10] [(5) The accounts of a company shall not be deemed as not having been, and the auditor's report shall not state that those accounts have not been, properly drawn up on the ground merely that the company has not disclosed certain matters if (a) Those matters are such as the company is not required to disclose by virtue of any provisions contained in this or any other Act, and (b) Those provisions are specified in the balance sheet and profit and loss account of the company.] -------------------------------------- Notes:- [1] Inserted by the Companies (Amendment) Act, 1965, Act 31 of 1965, section 21, w.e.f. 15-10-1965. [2] Inserted by the Companies (Amendment) Act, 1960 Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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