CMA Intermediate · Corporate Accounting and Auditing · Secretarial Audit
Under section 204 of the Companies Act, 2013, the secretarial audit report annexed to the Board's report of a listed company must be given by which of the following?
The secretarial audit report must be given by a company secretary in practice. Section 204(1) says every listed company, and other prescribed classes, must annex such a report to the Board's report. Chartered accountants, cost accountants and advocates are not the persons the section names.
- AA chartered accountant in practice
- BA company secretary in practiceCorrect
- CA cost accountant in practice
- DAn advocate enrolled with the Bar Council
Explanation
Section 204(1) requires every listed company, and other prescribed classes, to annex a secretarial audit report given by a company secretary in practice. The other professionals are not named for this report, so a chartered accountant is wrong even though one conducts the statutory audit.
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