Query: Appointment of Secretarial Auditor

[Ankita Bhargav]

Hi All,

I need clarification regarding the applicability of Secretarial Audit.

If a company’s turnover has exceeded ₹250 crore in FY 2024–25, how should it comply with the Secretarial Audit requirements? Specifically, I would like to know from which date the Secretarial Auditor should be appointed, considering that we came to know about the applicability while preparing the annual filings (which is still due).

Additionally, please confirm whether the MR-3 report needs to be attached to the Board’s Report for this financial year.

Kindly guide me.

Thanks, 

CS Ankita

[Ankita Bhargav]

Hi All,

Please advise me on this matter.

Thanks and Regards, 

CS Ankita Bhargav

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[Ketan Loomba]

Dear Ankita,

As the applicability was known late i.e. after receiving of audited financial statements.

The appointment of secretarial auditor should be done in the board meeting where approving the FS and audit report has to be done.

( Except in case of listed companies where reg 24A prescribes appointment in AGM and for 5 consecutive years)

And as the appointment is for FY2024-25, report in MR-3 should be annexed with the board report for the same financial year.

Regards 

Ketan Loomba 

7987478832

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