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Explain the following Term/Concept: Secretarial Audit

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Question

Explain the following Term/Concept:

Secretarial Audit

Short/Brief Note
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Solution

(1) Secretarial Audit is an audit to check implementation (compliance) of various legislations including the Companies Act and other corporate and economic laws applicable to the company. It is a mechanism to monitor compliance requirements. It aims at detecting mistakes or errors in the compliance mechanisms.

(2) Secretarial Audit helps the company to avoid risks and losses due to non-compliance. It creates confidence among regulators, management, and stakeholders that the company is following a disciplined approach of evaluation and improve effectiveness, risk management, control, and governance.

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Key Managerial Personnel (KMP)
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Chapter 6: Directors and Key Managerial personnel of a company - EXERCISES [Page 100]

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Balbharati Secretarial Practice [English] 11 Standard Maharashtra State Board
Chapter 6 Directors and Key Managerial personnel of a company
EXERCISES | Q 2. 11) | Page 100

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