TMI BlogCompanies (Removal of Difficulties) First Order, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... 9th August, 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nting policies and accounting 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 C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mendations of the said Committee, 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the following proviso shall be inserted, namely:- Provided that until the National Financial Reporting Authority is constituted under section 132 , the Central Government may hold consultation required under this sub-section with the Committee chaired by an officer of the rank of Joint Secretary or equivalent in the Ministry of Corporate Affairs and the Committee shall have the representativ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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