Can Company Secretary do tax audit?

A CS in practice could only be a consultant to his client in income tax matters. A CS in practice could not conduct any audit. A CS in practice may file returns on behalf of the assessee. Tax Audits to be conducted only by CAs’.

Can Company Secretary do internal audit?

There are no substantial powers or responsibilities of a Company Secretary as an Internal Auditor allocated in the act, however, he is expected to : Ensure proper following of accounting standards and conventions by the company. Ensure audit of the company’s financial statements and books of accounts.

Is there accounting in Company Secretary?

The Company Secretary Foundation course includes subjects like business environment, entrepreneurship, management, communication, ethics, economics, and accounting. In the Company Secretary Final course, candidates are taught secretarial practices, financial & treasury management.

Is Company Secretary a part of the audit committee?

The invitees for the meetings of the audit committee may also include the finance director, head of the internal audit and a representative of the statutory audit. The Company Secretary must take up the role of being the secretary of the audit committee.

What can a Company Secretary do?

Company secretaries in all sectors have high level responsibilities including governance structures and mechanisms, corporate conduct within an organisation’s regulatory environment, board, shareholder and trustee meetings, compliance with legal, regulatory and listing requirements, the training and induction of non- …

What is CS in auditing?

A practicing Company Secretary has been recognized to conduct a secretarial audit.

Who can be a company secretary auditor in India?

According to the provisions of Section 204, only a member of the Institute of Company Secretaries of India holding a certificate of Practice (i.e. PCS) is qualified to conduct secretarial audit of the company. Secretarial Auditor is required to be appointed by the Board of Directors of the Company in the Board Meeting.

Can director of a company can be appointed as Internal Auditor?

Eligibility Criteria for Appointment of Internal Auditor According to the Section 138 of the companies Act, the internal auditor can be chartered accountant or a cost accountant, company secretary or such other professional decided by the Board of Directors of the company for the purpose of internal auditing.

Who can be a Company Secretary?

The secretary of a private limited company can be an individual person, including a director or shareholder. This role can also be held by another company or organisation, the firm’s accountant or solicitor, a professional chartered secretary, or a company that provides administrative services.

What are the rules of Company Secretary?

ROLE OF COMPANY SECRETARIES v Pursuant to section 383A of the Companies Act, 1956, companies with a paid-up share capital of Rs. Two crores or more are compulsorily required to appoint a whole time Company Secretary who must he member of the Institute of Company Secretaries India .

Can a company secretary be the secretarial auditor of a company?

Only a Cost Accountant holding a certificate of practice can be the cost auditor of a company. Only a Company Secretary holding a certificate of practice can be the secretarial auditor of a company. Is company secretary a good career option to take up, and what are the advantages of being a company secretary in India?

Can tax audit be done by a cost accountant?

Tax Audit under the Income Tax Act is currently allowed to be conducted only by the Chartered Accountant but Proposed Direct Tax Code 2013 allows Tax Audit not Proposed DTC allows tax Audit by CS and Cost Accountants also

Who can conduct tax audit under Income Tax Act?

Tax Audit under the Income Tax Act is currently allowed to be conducted only by the Chartered Accountant but Proposed Direct Tax Code 2013 allows Tax Audit not only by Chartered Accountant but also by Company Secretaries and Cost Accountants.

Can a chartered accountant be an auditor of a company?

Only a Chartered Accountant holding a certificate of practice can be the statutory and tax auditor of a company. Only a Cost Accountant holding a certificate of practice can be the cost auditor of a company. Only a Company Secretary holding a certificate of practice can be the secretarial auditor of a company.