Know Your Auditor Companies act has made it mandatory to appoint a auditor within 30 days of incorporation of your company as apart of its post incorporation complainces, so it becomes very essential to know the duties, responsibilities and powers your auditors come equipped with. Ideally role of any statutory auditor is to examine the financial statements and give an opinion as to whether such financial statements portray true and fair view of the company. In such Examination it [...]

External Auditor vs Internal Auditor As per Institute of Internal auditor of India, “Internal auditing is an independent, objective assurance and consulting activity designed to add value to and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.” On the other hand, External Auditor means examination by independent body of the accounts and financial statements of the organisation required [...]

Can Director take loan from private limited company?  Introduction of Companies act, 2013 had major impact on working pattern of companies and its compliance requirement, in the erstwhile act there was no separate provision dealing specifically with loan to directors. However to incorporate stringent director loan compliance's the new act has brought up a separate section i.e. S.185 of Companies Act, 2013 dealing with director loans. Loans to director under Companies Act, 2013 No company in general can directly [...]

How Startup Valuation works? Meaning of startup valuation How do you determine value for an enterprise started a week or a month ago? , Will there be any company value at such stage?, Any enterprise at start has to incur lot of investments for its business and returns for it  may not be stable or it may not have any return, So can we say present  value of such startups is zero as selling them now will not fetch [...]