Regulation 67 — Audit Regulations 2020

Audit Regulations 2020regulations-audit

67. Records of the company to be made available to audit
The company shall expeditiously provide the required books of accounts, vouchers, data, information and other documents to the officers of the Accountant General (Audit) to discharge their duties and functions under the Companies Act, 2013.

What This Means

A government company must promptly provide all books of accounts, vouchers, data, information, and other documents that the Accountant General (Audit) officers need to carry out their duties under the Companies Act, 2013. This ensures the supplementary audit can proceed without delays caused by non-cooperation from the company.

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

1Company must provide all required records expeditiously to audit officers
2Records include books of accounts, vouchers, data, information, and other documents
3This supports the AG (Audit) in discharging supplementary audit duties
4The obligation is under the Companies Act, 2013 framework
5Non-cooperation can be reported as an audit obstruction

Practical Example

During the supplementary audit of Indian Railways Finance Corporation, the AG (Audit) team requests the bond issuance files, investment registers, and bank reconciliation statements for the year. IRFC must provide these documents promptly — not after weeks of delay. If certain digital records are needed, IRFC must grant appropriate access to its accounting systems.

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

Can a company delay providing records citing confidentiality or commercial sensitivity?▼

No. The regulation requires expeditious compliance. The CAG's audit jurisdiction under the Companies Act overrides general confidentiality claims. Audit officers are bound by their own Code of Ethics to maintain confidentiality of information obtained during audit.

What if the company claims certain records do not exist?▼

This itself would be a significant audit finding. Companies are required under the Companies Act to maintain proper books of account. Absence of records would be reported in the supplementary audit and could lead to qualifications in the audit report.

Does this apply to digital/electronic records?▼

Yes. 'Data, information and other documents' covers all forms of records including electronic data, ERP system access, digital vouchers, and electronic correspondence relevant to the audit.

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Regulation 67 — Audit Regulations 2020

Original Rule Text

What This Means

Key Points

Practical Example

Frequently Asked Questions

Related Rules