Company Required Secretarial Audit
Company Required Secretarial Audit, The requirement for secretarial audit varies across jurisdictions, and the specific companies mandated to undergo secretarial audit depend on the applicable laws and regulations.
Here are some common scenarios where secretarial audit is typically require:
1. Listed Companies:
In many jurisdictions, listed companies are require to undergo secretarial audit. Stock exchanges and securities regulatory authorities often impose this requirement to ensure compliance with corporate governance standards, disclosure requirements, and adherence to listing rules.
2. Public Companies:
Public companies, which are companies that have issued shares to the public, may be subject to mandatory secretarial audit. This is to ensure proper compliance with regulatory requirements, transparency, and accountability to shareholders and the public.
3. Companies with Paid-Up Capital Threshold:
Certain jurisdictions have provisions that require companies to conduct secretarial audit based on their paid-up capital. The threshold may vary, but it is typically higher for larger companies. This requirement aims to ensure proper compliance with legal and regulatory obligations.
4. Companies with Multiple Subsidiaries:
In some jurisdictions, companies with multiple subsidiaries or group structures may be mandated to undergo secretarial audit. This is to assess compliance across the group entities and ensure adherence to legal and regulatory requirements.
5. Companies in Regulated Industries:
Companies operating in highly regulated sectors such as banking, insurance, financial services, and non-banking financial companies (NBFCs) may be require to undergo secretarial audit as part of sector-specific regulatory compliance.
It’s important to note that the specific applicability and thresholds for secretarial audit may differ based on the laws and regulations of each jurisdiction. It is advisable to consult the applicable company laws, regulations, and corporate governance guidelines of the relevant jurisdiction to determine the mandatory secretarial audit requirements for specific types of companies. Seeking guidance from legal professionals or corporate secretarial experts can provide accurate and up-to-date information regarding the requirement for secretarial audit.
To visit: https://www.mca.gov.in/
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