MCA tweaks rules about company deposits, enhances statutory auditors' role

The new rules, according to experts, will widen the responsibility of directors to the statutory auditors. They came into effect on August 29

The Ministry of Corporate Affairs (MCA), in a bid to bring greater transparency in deposits, has amended the rules related to companies and statutory auditors. 

 

According to a report by BusinessLine, the new rules will require companies to submit information related to liquid assets. The auditors will have to submit