Companies Act

The Companies Act is a crucial piece of legislation in India that governs the registration, regulation, and dissolution of companies. Over the years, the Act has undergone significant changes, with two major versions being enacted: the Companies Act of 1956 and the Companies Act of 2013. This article provides an overview of both Acts, highlighting […]

Internal auditing is a crucial function within organizations that focuses on enhancing operations, managing risks, and ensuring compliance with laws and regulations. In several jurisdictions, including India, certain companies are legally required to appoint internal auditors. This article discusses the legal requirements, significance, and advantages of having an internal audit function in a company. Legal

Registering a firm is a crucial step for entrepreneurs and business owners, providing legal recognition, enhancing credibility, and ensuring compliance with relevant laws. This article explores the types of firms, the registration process, benefits, and key considerations. Types of Firms Sole Proprietorship Owned and managed by a single individual. Simple to set up with minimal

The structure of a company’s board of directors is a critical aspect of corporate governance. In India, the number of directors a company can appoint is regulated by the Companies Act, 2013. This article outlines the minimum and maximum limits for directors in different types of companies, as well as some additional provisions regarding their

A company is a legal entity formed to conduct business and engage in economic activities. Understanding the features of a company is essential for entrepreneurs, investors, and anyone interested in the corporate landscape. Here are the primary characteristics that define a company: Separate Legal Entity One of the fundamental features of a company is its

The incorporation of a company is a crucial step in establishing a legal entity for conducting business. In India, this process is primarily governed by the Companies Act, 2013. Section 7 of the Act outlines the specific requirements and procedures necessary for the incorporation of a company, ensuring that all legal and regulatory standards are

The formation of a company is a critical process in establishing a legal business entity. In India, this process is primarily governed by the Companies Act, 2013. Section 3 of the Act outlines the essential requirements and conditions necessary for forming a company, ensuring that all legal prerequisites are satisfied. Key Provisions of Section 3

Auditing is a critical process in assessing the accuracy and reliability of financial statements, ensuring compliance with laws and regulations, and evaluating the effectiveness of internal controls. A well-structured audit strategy encompasses planning, execution, and evaluation. This article provides an overview of these components and best practices for successful audits. Audit Planning Purpose of Planning

The appointment of auditors is a critical aspect of corporate governance and financial reporting. Auditors play a vital role in ensuring the integrity of financial statements and providing assurance to stakeholders. In India, the appointment of auditors is primarily governed by the Companies Act, 2013. This article explores the process and significance of appointing the

Internal audit is a critical function that helps organizations assess their operations, manage risks, and ensure compliance with applicable laws and regulations. In India, the requirements for internal audits are primarily governed by the Companies Act, 2013. Applicability of Internal Audit Mandatory Requirement Under Section 138 of the Companies Act, 2013, the following companies are