The auditor shall report the matter of fraud to hellip hellip within hellip hellip days ........

Companies Act-Phase (I & II) Audit and auditors

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The auditor shall report the matter of fraud to…….. within……days

Board of directors, 2

Board of directors, 5

Board of directors or audit committee, 45 days

Board of directors or audit committee, 2 days

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Explanation:

In case of a fraud involving less than rupees one crore (individually), the auditor needs to report the matter to the Audit Committee or the Board, instead of the Central Government, immediately or within 2 days of becoming aware/ suspecting such a fraud.