CHAPTER 8
AUDIT
(1) Every company shall appoint an auditor under this Act to have its accounts audited.
(2) In cases where any company has a branch office outside Nepal, the auditor appointed pursuant to Sub-section (1) may also audit the accounts of that branch ….Read More….
(1) The auditor of accompany shall be appointed, from amongst the auditors licensed to carry out audit under the prevailing law, by the general meeting, subject to Chapter-18, in the case of a public company, and, in accordance with the provision as contained in the memorandum of association, articles of association or consensus agreement, any failing ….Read More….
(1) None of the following persons or the firms or companies in which such persons are partners shall be qualified for appointment as an auditor and shall, despite appointment as auditor, continue to hold office:
- (a) A director, advisor appointed with entitlement to ….Read More….
Where the annual general meeting of a company fails to appoint an auditor for any reason or where the annual general meeting itself cannot be held or where the auditor appointed pursuant to this Act ceases to continue his/her office for any reason, ….Read More….
The books of accounts and records of a company shall on his/her demand, at any time during office hours be furnished to the auditor for the purposes of audit; and the concerned director or employee shall also forthwith give oral explanations on such matter as may be asked by him/her, within a reasonable period of time.
(1) The auditor shall, addressing the shareholders or the appointing authority, submit to the company his/her report, certifying the balance sheet, profit and loss account and cash flow statement based on the books of account, records an ….Read More….
(1) An audit report prepared by the auditor appointed by any company this Act shall be signed and dated by the auditor him/herself.
(2) Whether any company has appointed any accounting institution licensed under the prevailing law to carry out the audit, the member who has ….Read More….
The Company shall, subject to the provisions contained in this Act, send a copy of the report made by the auditor to the shareholders. Whether there is a provision of the formal trade union in such company, the company shall, at the request in writing of such trade union, provide one copy of such report to that trade union.
118. Remuneration of auditor
The remuneration of an auditor shall be as prescribed by the appointing authority, and such remuneration shall be borne by the company.
(1) No auditor appointed pursuant to this Chapter shall be removed pending the completion of the audit of accounts of any financial year for which he/she was appointed as the auditor.
(2) Notwithstanding anything contained in Sub-section (1), if any auditor breaches the code of conduct of auditors or does any act against the ….Read More….
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