SECRETARIAL AUDIT corporate compliance management
SECRETARIAL AUDIT Secretarial Audit is a compliance audit and it is a part of total compliance management in an organisation. The Secretarial Audit is an effective too l for corporate compliance management. It helps to detect non-compliance and to take corrective measures. Secretarial Audit is a process to check compliance with the provisions of various laws and rules/ regulations/procedures, maintenance of books, records etc., by an independent professional to ensure that the company has complied with the legal and procedural requirements and also followed the due process . It is essentially a mechanism to monitor compliance with the requirements of stated laws. Considering the increasing importance of Corporate Governance, Section 204 of the Companies Act, 2013 mandates every listed company and such other class of prescribed companies to annex a Secretarial Audit Report, given by a company secretary in practice with its Board’s report. The Central Government through rules has prescribed such other class of companies as under- (a) every public company having a paid-up share capital of fifty crore rupees
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