The Ministry of Corporate Affairs (MCA) has issued the Company (Accounts) Amendment Rules, 2021, Companies (Audit and Auditors) Amendment Rules, 2021 and made amendments to Schedule III under the Companies Act, 2013 (“the Act”). These amendments require significant additional disclosures in the statutory financial statements of companies, enhance reporting responsibilities of the auditors and require companies to use and maintain accounting software with audit trail functionality.
Companies (Accounts) Second Amendment Rules, 2021
Rule 3 – Manner of books of account …
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