MCA vide General Circular No. 08/2017 on Tuesday, 25th July, 2017 issued clarification regarding applicability of exemption to certain class of private companies as notified vide notification dt. June, 13, 2017 relating to disclosure in auditors’ report for Internal Financial Controls system. Vide said circular, it has clarified that the exemption shall be applicable to those Audit Reports in respect of financial years commencing on or after 1st April, 2016, which are made on or after June 13, 2017.
The said circular can be accessed at the following link:GenCir8_2017_25.07.2017_ClarificationSec143