model audit committee minutes for unlisted company

[csarengarajan]

Unlisted Public company having paid up capital more than 5 crores have constituted audit committee

 

can any one suggest model minutes and the committee minutes will be recorded in board minutes and confirmation previous audit committee are to be confirmed subsequent audit committee  meeting. what is the normal procedure.  The Board meeting always previous minutes are confirmed in subsequent meeting.  Here we have to record the minutes in board meeting and confirmation is necessary in next audit committee meeting 

 

Thanks in advance

 

regards

[csarengarajan]

Dear members

 

This is one of instance where we are not response from our fellow members. couple of times earlier also i have asked queries which was not at all responded or you can say it has been ignored fully. Can you look into the query pelase. I am also asking procedure and model format heading. Those are in the listed company can answer my qurey regarding audit committe minutes

 

regards

[yogish bhat]

Mode committee meetings can be drafted in the same way as the Board minutes are.

Minutes of Committee meeting are usually noted by the immediate Board meeting and it is just copy past of the minutes of  committee meetings. Further, Audit committee minutes must evidence that provisions of Sec 292A are complied.  

Regards.

[csarengarajan]

Dear Yogish

 

Please tell that if there is any audit committe meeting confirmation?  We are recording audit committee minutes in the subsequent board meeting what about confirmation of previous audit committee is it necessary or just leave it

 

Your valuable reply is awaited

 

Thanks in advance

 

regards

 

[Rajesh Warrier]

 

Sir,

 

Somewhere in the past we had a discussion on the matter whether confirmation of previous minutes is necessary and if my memory doesn't let me down, we concluded that its a customary procedure rather than a legal requirement to have the minutes of previous minutes placed in the subsequent meeting to decide on the following:

 

1. Whether the minutes have been properly recorded.

 

2. Actions taken based on the previous minutes.

 

Taking both the above points, I think it will be a good practise to place the minutes of the previous audit committee in the meeting of the subsequent audit committee.

 

But since we are placing the minutes of the audit committee in the subsequent Board Meeting, the minutes might already have been signed by the Chairman of the Audit Committee. In which case, the minutes of the Audit Committee need not be confirmed in the subsequent audit committee meeting as it already have been signed by the Chairman, but just be placed for reference.

 

Other views invited.....

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Thanks
Regards
Rajesh A
Company Secretary
Kochi
Mob: 09846874314

[Rajesh Warrier]

 

Sir,

 

PFA.

 

Make suitable changes......

[csarengarajan]

thank u

[Shruti Agarwal]

Hello sir,

Please find the attachment. hope it solves ur purpose.

Regards
Shruti Agarwal

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Regards

Shruti Agarwal
Practicing Company Secretary
Kanpur
09305837711