Auditors to sign audit reports, etc. (Section 145 of the Companies Act, 2013) :

A new section 145 of the Companies Act, 2013 came into force from 1st April, 2014 which provides for auditors to sign audit reports, etc. According to this section:

(i) The person appointed as an auditor of the company shall sign the auditor‘s report or sign or certify any other document of the company in accordance with the provisions of sub – section (2) of section 141 (i.e. in case of firm including LLP, only Chartered Accountants are authorised to act and sign).

(ii) The qualifications, observations or comments on financial transactions or matters, which have any adverse effect on the functioning of the company mentioned in the auditor‘s report shall be read before the company in general meeting and shall be open to inspection by any member of the company.