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First Auditors platform is a technology-driven platform that offers specialized legal and financial advisory services in India.

Secretarial Audit

We specialize in Compliance Check Registration services to help your business meet compliance requirements and contribute to sustainable growth. Our services include the following:

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01 Overview 02 Who Needs 03 Benefits 04 Documents 05 Procedure 06 Authority & Fees 07 Validity 08 How We Help 09 FAQ
Overview

Compliance Check - Secretarial Audit Overview

Understand the importance and process of Secretarial Audit for your business.

Secretarial Audit Services
  • The approach for managing compliance overall throughout the organisation includes a secretarial audit. The secretarial audit is a useful technique for managing company compliance. Additionally, it helps in identifying noncompliance and implementing the appropriate remedies.
  • A secretarial audit is a procedure used to examine a company's adherence to various laws, rules, regulations, or processes, records, accounting, bookkeeping, etc. The company's secretarial audit can be overseen by a separate expert. Making sure that the rules and regulations are adhered to and obeyed is a practice. The secretarial audit always adheres to the correct procedure. It serves largely as a means to check that stated laws are being followed.
  • Your organization's ability to effectively handle the legal and procedural requirements to ensure compliance will be improved with the help of a secretarial audit.
  • It aids in boosting the confidence of the directors and other key management personnel (KMP), etc.
  • Only when the Secretarial Audit assures that legal and procedural obligations are met in a safer, better, and audible manner can the company directors focus on their crucial business matters and meetings.
  • Thus, it aids in lightening the workload of law enforcement officials.
  • By doing this and displaying your legal history, you may demonstrate to investors the correct course to take.
  • A useful governance and risk management tool is secretarial audit. It produces the outcome considerably more effectively.
Who Needs This Service

Who Requires a Secretarial Audit?

Secretarial audits are essential for ensuring compliance with legal and regulatory requirements.

  • Listed Companies (mandatory)
  • Public Limited Companies
  • Companies with foreign investments
  • Large Private Limited Companies
  • Companies seeking investor confidence
  • Businesses with complex compliance needs
Benefits

Benefits of Secretarial Audit

A secretarial audit provides numerous advantages for organizations.

Ensures Compliance

Helps organizations ensure compliance with various laws, rules, regulations, and procedures.

Identifies Non-Compliance

Helps in identifying noncompliance and implementing appropriate remedies.

Builds Confidence

Boosts the confidence of directors and key management personnel (KMP).

Improves Governance

A useful governance and risk management tool that produces results effectively.

Builds Investor Trust

Demonstrates legal compliance to investors, showcasing the right business direction.

Comprehensive Records

Ensures all statutory records and filings are maintained properly.

Documents Required

Documents Required for Secretarial Audit

The following documents are required for a comprehensive secretarial audit:

Corporate Documents
  • Charter Documents
  • Previous Secretarial Audit Report
  • Statutory Registers
  • Minutes of Board and General Meetings
  • Meeting Notices
Financial Documents
  • Certified Financial Statements
  • Dividend Account Information
  • Director Remuneration Details
  • Sitting Fees Information
  • CSR Expenditure Proof
Regulatory Documents
  • ROC Filings & Notifications
  • Stock Exchange Filings (if listed)
  • Newspaper Advertisements
  • RBI Filings (Foreign Investment)
  • ECB Results (Foreign Borrowings)
  • Labour Law Registers
  • Softex Returns
  • LUT Cum Bond
  • Annual Performance Reports
Step-by-Step Procedure

Secretarial Audit Procedure

The secretarial audit process follows a systematic approach.

01
Planning

Audit Planning

Define the scope of audit, identify applicable laws, and develop an audit plan with timelines and resource allocation.

02
Document Collection

Gather Documents

Collect all relevant documents, registers, filings, and records from the company for review.

03
Review & Analysis

Review and Analyze

Review all documents and analyze compliance with applicable laws, rules, and regulations.

04
Observations

Identify Observations

Identify compliance gaps, non-compliance issues, and areas requiring improvement.

05
Recommendations

Provide Recommendations

Suggest remedial measures and corrective actions to address non-compliance issues.

06
Report

Prepare Audit Report

Prepare the Secretarial Audit Report (Form MR-3) with findings, observations, and recommendations.

Authority, Timeline & Fees

Where the audit goes, and what it costs

Regulatory Authority

Ministry of Corporate Affairs (MCA), Registrar of Companies (ROC), Securities and Exchange Board of India (SEBI) for listed companies.

Estimated Processing Period

Typically 2 to 4 weeks depending on the size of the company and availability of documents.

Report Issued

Secretarial Audit Report (Form MR-3) as per Companies Act, 2013.

Fee Structure

Professional fee based on company size and scope. Quoted upfront by First Auditor.

ComponentPaid ToNature of charge
Audit Fee First Auditor Based on company size, complexity, and scope
Administrative Costs First Auditor Document collection and verification
Report Preparation First Auditor Form MR-3 preparation and filing

Our team quotes the complete fee upfront before you proceed, with nothing added later.

Validity & Renewal

Validity and Renewal of Secretarial Audit

Understand the validity period and renewal requirements for secretarial audits.

  • Validity Period: The Secretarial Audit Report is valid for the financial year for which it is conducted.
  • Frequency: For listed companies, secretarial audit is mandatory every financial year.
  • Filing Requirement: The Secretarial Audit Report (Form MR-3) must be filed with the ROC annually.
  • Renewal: A new secretarial audit must be conducted for each financial year.
  • Best Practice: Conducting regular secretarial audits helps maintain ongoing compliance and identify issues early.
  • Additional Audits: Special purpose secretarial audits can be conducted as needed for specific compliance reviews.
How First Auditor Assists

One team, from document collection to audit report

We manage every step of the secretarial audit process so you can focus on your core business.

Eligibility Check

We verify your company's eligibility and identify applicable laws for the audit.

Document Collection

Assistance in gathering and organizing all required documents and records.

Compliance Review

Comprehensive review of compliance with all applicable laws and regulations.

Gap Analysis

Identifying compliance gaps and suggesting corrective measures.

Report Preparation

Preparation of Secretarial Audit Report (Form MR-3) with findings.

Filing Support

Assistance in filing the Secretarial Audit Report with the ROC.

Query Handling

We respond to any queries or clarifications from regulatory authorities.

Timely Delivery

Ensuring the audit is completed and report delivered within the stipulated timeline.

Advisory Support

Ongoing advisory support to maintain compliance and prevent issues.

Frequently Asked Questions

FAQ

Compliance auditing services evaluate an organization's adherence to regulatory standards and internal policies, ensuring operational efficiency and legal compliance.

It helps identify compliance gaps, mitigate risks, and enhance accountability, protecting the organization from potential legal penalties and reputational damage.

Industries such as finance, healthcare, manufacturing, and information technology benefit significantly from compliance auditing services.

The frequency of compliance audits depends on the industry, regulatory requirements, and organizational risk, typically ranging from annually to bi-annually.

Organizations can expect improved compliance, enhanced operational effectiveness, and actionable insights for risk management and process improvement.

The Secretarial Audit Report is prepared in Form MR-3 as prescribed under the Companies Act, 2013, containing detailed findings and observations.

First Auditor provides end-to-end assistance for secretarial audits including document collection, compliance review, report preparation, and filing support. We ensure accurate and timely delivery of the audit report.

Secretarial audit is not mandatory for all private companies. However, it is required for listed companies and large private companies meeting certain criteria as prescribed by the Companies Act, 2013.
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Disclaimer: This page is provided for general informational purposes only and does not constitute legal, tax, or professional advice. Secretarial audit requirements, forms, and timelines are prescribed by the Ministry of Corporate Affairs under the Companies Act, 2013 and are subject to change without notice. First Auditor is an independent professional services firm and is not affiliated with, or an agent of, any government department. Please consult our team or a qualified professional for advice specific to your situation before proceeding with a secretarial audit.
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