Companies (Audit and Auditors) Second Amendment Rules, 2021
Please see below the excerpt from the notification issued by MCA on Companies (Audit and Auditors) Second Amendment Rules, 2021:
|2||Subject||Companies (Audit and Auditors) Second Amendment Rules, 2021|
|3||Effective date||They shall come into force w.e.f 01.04.2021|
|4||Applicability||Companies Audit Report|
The Ministry of Corporate Affairs on 1st April 2021 has published the Companies (Audit and Auditors) 2nd Amendment Rules, 2021 to further amend the companies (Audit and Auditors) rules, 2014.
The Amendment is brought under rule 11 which specifies other matters to be included in auditor’s report in which Clause (g) has been subsisted as follows:
Whether the company in respect of financial year commencing on or after 1st April 2022 has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been operated throughout the year for all transactions recorded in the software and the audit trail feature has not been tampered with and the audit trail has been preserved by the company as per the statutory requirements for record retention.