Audit Committee resolution format for reviewing the auditor's independence under Section 177(4)(ii) and approving non-audit services under Section 144.
“RESOLVED THAT pursuant to Sections 141, 144 and 177(4)(ii) and other applicable provisions, if any, of the Companies Act, 2013 read with Rule 10 of the Companies (Audit and Auditors) Rules, 2014, the Audit Committee, having reviewed the written confirmation of independence received from M/s [●], Chartered Accountants (Firm Registration No.: [●]), the Statutory Auditors, the non-audit services rendered by them, and their performance and the effectiveness of the audit process for the financial year [●], hereby records that the Statutory Auditors continue to be independent and eligible and that their performance has been [satisfactory / [●]].
RESOLVED FURTHER THAT the Committee hereby approves, under Section 144 of the said Act, the rendering of the following services by the Statutory Auditors, none of which is a prohibited service: [●], at a fee of ₹[●] (Rupees [●] only) plus applicable taxes.
RESOLVED FURTHER THAT the Company Secretary be and is hereby authorised to place this resolution 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.