Audit Committee resolution format for examining annual financial statements and the auditor's report under Section 177(4)(iii) and recommending Board approval.
“RESOLVED THAT pursuant to Sections 177(4)(iii) and 177(5) and other applicable provisions, if any, of the Companies Act, 2013 [and Regulation 18 read with Part C of Schedule II to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015], the Audit Committee, having examined the draft standalone [and consolidated] financial statements of the Company for the financial year ended 31 March [●] and the draft auditor’s report on them, and having discussed them with the management and the statutory auditors, hereby recommends the said financial statements to the Board of Directors for approval under Section 134(1) of the said Act.
RESOLVED FURTHER THAT the Committee notes that the statutory auditors propose to issue an [unmodified / modified] opinion, and directs that the management’s responses to the matters raised by the auditors, as recorded in the minutes, be placed before the Board.
RESOLVED FURTHER THAT the Company Secretary be and is hereby authorised to place this recommendation before the Board and to do all such acts, deeds and things as may be necessary for giving effect to this resolution.”
No rules under this Section yet.