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List of Important sections for IPCC Audit

Compiled by: Pankaj Garg (CA, CS, CMA All India Topper, Gold Medalist)

List of Important Sections Companies Act, 1956


Sec. 77 Sec. 77A Sec. 77AA Sec. 78 Sec. 79 Sec. 79A Sec. 80 Sec. 81 Sec. 94 Sec. 100 Sec. 117C Sec. 121 Sec. 198 Sec. 205 Sec. 205A Sec. 208 Sec. 209 Sec. 210 Sec. 211 Sec. 217 Sec. 224(1) Sec. 224(1A) Sec. 224(1B) Sec. 224(2) Sec. 224(3) & (4) Sec. 224(5) Sec. 224(6) Sec. 224(7) Sec. 224(8) Sec. 224A Sec. 225 Sec. 226(1) Sec. 226(3) Sec. 226(4) Sec. 226(5) Sec. 227(1) Sec. 227(1A) Sec. 227(2) Sec. 227(3) Sec. 227(4) Sec. 227(4A) Sec. 228(1) Sec. 228(2) Sec. 228(3) Sec. 228(4) Sec. 229 Sec. 230 Sec. 231 Sec. 232 Sec. 233 Sec. 233A Sec. 233B Restrictions on company to purchase its own shares Powers of company to purchase its own securities Transfer of sum to Capital redemption Reserve Account Issue of Securities at Premium Issue of Shares at Discount Issue of Sweat Equity Shares Power to Issue Redeemable Preference Shares Further Issue of Capital Alteration of Share Capital Reduction of Share Capital Creation of Debenture Redemption Reserve Reissue of Redeemed Debentures Overall Maximum Managerial remuneration Payment of Dividend Out of Profits Transfer of Unpaid Dividend to Special Dividend Account Payment of Interest out of capital Books of Account to be kept by company Annual accounts and Balance sheet Form and contents of balance sheet and Profit and Loss Account Boards Report Appointment of auditor by Shareholders in AGM Intimation by Auditor to ROC Specified No. of Companies Re-appointment of Retiring auditor Appointment of Auditor by Central Government Appointment and Removal of First Auditors Filling up of Casual vacancy Removal of auditor before completion of tenure Remuneration of Auditor Special resolution for appointment of Auditor in case of certain companies Removal of Auditors Qualifications for becoming a auditor Persons disqualified for being appointed as auditor Disqualifications in Group company Subsequent Disqualifications Right of access and information Inquiry and reporting on Propriety Matters Reporting on Books of Accounts and Financial Statements Reporting on Other matters Reasons for Negative or Qualified remarks Statement on CARO Persons qualified to be appointed as Branch auditor Right of Company Auditor when branches were audited by other persons Appointment, Powers and Duties of Branch Auditor Power to frame rules for exemption of branch audit Signature of Audit Report Reading and Inspection of Auditors Report Right of Auditor to attend General Meetings Penalty for non-compliance with sections 225 to 231 Penalty for non-compliance by auditor with sections 227 and 229 Special Audit Cost Audit