Audit Under Companies Act

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An audit under the Companies Act involves a detailed examination of a company's financial statements and compliance with legal requirements. Documents checked include financial statements, ledgers, invoices, and bank statements. Auditors assess internal controls, financial reporting practices, and adherence to accounting standards. Additionally, minutes of board meetings, shareholder resolutions, and statutory registers are scrutinized. The audit ensures accuracy in financial reporting, identifies financial irregularities, and provides stakeholders with reliable information. A comprehensive understanding of accounting principles, legal compliance, and transparency is crucial for a successful audit under the Companies Act.