The MCA has released the Companies (Audit and Auditors) Amendment Rules, 2018 which shall come into force on the date of its publication in the Official Gazette i.e. May 7, 2018.

The Rules amend Rule 3 (Manner and procedure of selection and appointment of auditors), Rule 10A (Report of Auditor), Rule 14 (Remuneration of the Cost Auditor) and omit Rule 9 (Liability to devolve on concerned partners only).

May 15th, 2018