SECRETARIAL AUDIT FOR LISTED COMPANIES:
The Securities and Exchange Board of India (SEBI) has directed all listed companies to subject themselves to a secretarial audit undertaken by a qualified chartered accountant or company secretary. The move aims at reconciliation of total shares held in CSDL, NSDL and in physical form with the admitted, issued and listed capital of companies, says a SEBI release. Following this audit, SEBI has also asked companies to submit a quarterly audit report to the stock exchanges where their original shares are listed. Any differences observed are required to be brought to the notice of SEBI and depositories instantaneously.
SECRETARIAL AUDIT FOR PUBLIC UNLISTED COMPANIES:
Every Public Unlisted Company is needed to conduct auditing by a professional preferably, Company Secretaries India only if any notice is delivered from ROC or any other authority. Such an audit comments and presents Auditors view on the proceedings of the company; also it states compliance with all the provisions of companies Act, 1956, SEBI and other relevant acts by the Company and presents its unfavorable comments on the same, if any.
SECRETARIAL AUDIT FOR PRIVATE LIMITED COMPANIES:
Every Public Unlisted Company is required to conduct auditing by a professional preferably, Company Secretary on annual basis. Such an audit comments and presents Auditors view on the proceedings of the company, also it mentions whether the company has complied with all the statutory provisions of companies Act, 1956, SEBI and other relevant acts and presents its adverse comments on the same, if any.
SECRETARIAL AUDIT CORPORATE GOVERNANCE AUDIT OF CENTRAL PUBLIC SECTOR UNDERTAKING:
Ministry of Heavy Industries and Public Enterprise has formulated guidelines on Corporate Governance for Central Public Sector Enterprises. These guidelines have evolved through a consultation process where the stakeholders had participated. These Guidelines are prepared keeping in view the provisions in the relevant laws, rules and instructions. These guidelines on corporate governance are formulated with the motive that the Central Public Sector Enterprises follow the guidelines in their functioning. Proper implementation of these guidelines would protect the interest of shareholders and relevant stakeholders.