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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Empowerment of the Company Secretary Profession

Kaveri Power Ltd, a listed company, is preparing its Board's report. Its in-house company secretary, who is a whole-time employee, offers to also sign the secretarial audit report to save cost. Under the Companies Act, 2013, who must give the secretarial audit report annexed to the Board's report of a listed company?

The report must be given by a company secretary in practice. Section 204 requires every listed company to annex a secretarial audit report from such a professional to its Board's report. The in-house whole-time secretary, the statutory auditor or the chairperson cannot give it.

  1. AAny member of ICSI, including the whole-time secretary of the company
  2. BA company secretary in practiceCorrect
  3. CThe statutory auditor of the company
  4. DThe chairperson of the Board

Explanation

Section 204(1) requires every listed company to annex to the Board's report a secretarial audit report given by a company secretary in practice. The in-house secretary is an employee and does not qualify, and the statutory auditor is not named for this report.

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