Regarding disclosure requirement and reporting requirement in the Auditor’s Report that the company has provided requisite disclosures in itse period from 8thNovember, 2016 to 30thDecember, 2016.
Further, the Ministry of Corporate Affairs has amended the Rules pertaining to Chapter X of the Companies Act, 2013, wherein it has been provided that the auditor of a company is required to disclose in the Auditor’s Report “whether the company had provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8thNovember, 2016 to 30thDecember, 2016 and if so, whether these are in accordance with the books of accounts maintained by the company.”
We request you to please note the amendment and take care in your professional capacity for disclosure requirements and reporting requirements while accounting/ auditing the financial statements for the year 2016-2017.
Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India