MCA Update

MCA Vide General Circular No.08/2017 dated 25^th July, 2017 clarified w.r.t. the financial year in respect of applicability of exemption given to certain private companies from requirement of reporting under section 143(3)(i) of the Companies Act, 2013 (Internal Financial Control system).

  

The said exemption shall be applicable to audit reports in respect of financial statements pertaining to financial years commencing on or after 1^st April, 2016, which are made on or after the date of said notification i.e. 13^th June, 2017.