Types of Audit Company audits in India are classified as follows: Statutory Audits Internal Audits Requirement Statutory Audit Internal Audit Applicability All companies irrespective of nature of business or turnover Classes of companies mentioned under the Companies Act Auditor Independent Chartered Account or a firm of chartered accounts Independent Chartered Account or a firm of chartered accounts (other than statutory auditor) / Cost accountant / any other professional that the company deems fit Scope Financial statements and records Financial statements and other aspects of the company’s activities.
Under the provisions of the Companies Act, 2013, there are certain compliance requirements that Private limited companies would need to comply with in order to avoid penalties, or worse, strike-off.
Section 9 of the Indian Patent Act, 1970 classifies two type of patent specifications: Complete Specification Provisional Specification What is a Provisional Patent Specification?
Definition of a Director under the Companies Act The Companies Act, 2013, defines a director as a person who is appointed to be a part of the Board of the Company.