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ARTICLE · 04 MAY 2023

Amendments To The Companies (Audit & Auditors) Rule 2014

Bhuta Shah and Co. LLP
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MCA through notification dated 24 March 2021, issued the ‘Companies Amendment Rules, 2021' which effectively amended ‘Rule 11-Other Matters to be Included ..

IndiaAccounting and Audit
Bhuta Shah Co & LLP
Bhuta Shah Co & LLP

MCA through notification dated 24 March 2021, issued the 'Companies (Audit and Auditors) Amendment Rules, 2021' which effectively amended 'Rule 11-Other Matters to be Included in Auditors Report' of the Companies (Audit and Auditors) Rule 2014.

Rule 11 prescribes the matters to be included in the auditor's report. Additional matters to be included in the audit report under 'Other Matters paragraph' are as below:

a. The management has represented that to the best of its knowledge and belief, other than as disclosed in the notes to the accounts:

i. No funds have been advanced or loaned or invested (either from borrowed funds, share premium or any other sources/kind of funds) by the company to/in any other person(s) or entity(ies), including foreign entities (intermediaries), with the understanding (recorded in writing or otherwise) that the intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner

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