Justify the following statement:A secretarial Audit is required under the laws.
Answer»
It is an audit that checks the compliance of various legislation including the Companies Act, other Corporate Acts, and economic laws.
It aims at detecting errors and mistakes in the compliance mechanisms.
It gives confidence to regulators, management authorities, and shareholders that the company is following a disciplined approach of evaluation and improve effectiveness and risk management.
Thus, Secretarial Audit is required under the laws.