The government is considering giving relief to small companies doing business in the country from statutory audit. The government intends to promote ease of doing business in the country.
Also, the legal workload on companies as much as possible To be reduced Should. Under this campaign, work is underway to create this new system.
According to sources, the relief may be given to companies with a paid-up capital of less than Rs 2 crore. Under this, they will not need an auditor report to file with the Registrar of Companies. Also, the need to certify annual returns and balance sheets can be eliminated. It can be self-certified by a company secretary or even a single director.